đ $FLNC is showing a potential technical setup!
The daily chart shows a recovery attempt following a prolonged downtrend, currently stabilizing and forming a base near the 6.78 support level.
đ The Technical Setup:
⢠The Pattern: Descending channel breakdown followed by range accumulation
⢠Short-term Target: 10.43 USDT
⢠Macro Objective: 13.38 USDT
⢠Market Structure: Reversal / Accumulation
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 6.78 - 7.50 USDT
⢠Resistance: 10.43 USDT
⢠Breakout Level: 8.50 USDT
⢠Stop Loss / Invalidation: 6.50 USDT
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Bullish recovery off key Fibonacci extension level
⢠Trend: Transitioning from strong bearish trend to local consolidation
â ď¸ Invalidation:
A daily candle close below 6.78 USDT will invalidate this bullish reversal setup.
Monitor price action closely as it tests immediate local resistance.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#flnc #crypto #BinanceSquare #Binance #TechnicalAnalysis
The daily chart shows a recovery attempt following a prolonged downtrend, currently stabilizing and forming a base near the 6.78 support level.
đ The Technical Setup:
⢠The Pattern: Descending channel breakdown followed by range accumulation
⢠Short-term Target: 10.43 USDT
⢠Macro Objective: 13.38 USDT
⢠Market Structure: Reversal / Accumulation
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 6.78 - 7.50 USDT
⢠Resistance: 10.43 USDT
⢠Breakout Level: 8.50 USDT
⢠Stop Loss / Invalidation: 6.50 USDT
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Bullish recovery off key Fibonacci extension level
⢠Trend: Transitioning from strong bearish trend to local consolidation
â ď¸ Invalidation:
A daily candle close below 6.78 USDT will invalidate this bullish reversal setup.
Monitor price action closely as it tests immediate local resistance.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#flnc #crypto #BinanceSquare #Binance #TechnicalAnalysis
