$WLD En On a weekly timeframe, every time the price drops to about 0.34, you can see a strong rejection, leaving long shadows and long wicks.
For my part, I did a short futures trade to make something off a momentum impulse, but in spot, in my holdings, I see the following.
A weak ceiling at 0.46—if the price keeps rising—but in reality I’d expect a new test of the 0.341 support level, where there’s a wall of buy orders waiting for the price to fall to that level.
If you have USDT, I’d place a buy order at 0.35 to buy at a good price and take advantage of that impulse. If the price first reaches 0.46, you need to evaluate how strongly it got to that level: look at the candle’s strength, the price action at that moment, and its depth.
One not insignificant detail is that on the weekly chart, the volume of the most recent bearish candles is weak—there aren’t many transactions, as if in the previous bullish candles
For my part, I did a short futures trade to make something off a momentum impulse, but in spot, in my holdings, I see the following.
A weak ceiling at 0.46—if the price keeps rising—but in reality I’d expect a new test of the 0.341 support level, where there’s a wall of buy orders waiting for the price to fall to that level.
If you have USDT, I’d place a buy order at 0.35 to buy at a good price and take advantage of that impulse. If the price first reaches 0.46, you need to evaluate how strongly it got to that level: look at the candle’s strength, the price action at that moment, and its depth.
One not insignificant detail is that on the weekly chart, the volume of the most recent bearish candles is weak—there aren’t many transactions, as if in the previous bullish candles
