๐ข $MRVL / $USDT | ๐ข LONG | โญ 75.6%
๐ฏ Objective: $245.63. Will it achieve it?
๐ฏ Trading levels:
๐ข Entry: $237.87
๐ Stop Loss: $233.21
๐ TP1: $245.63
๐ TP2: $247.18
๐ TP3: $250.29
๐ Analysis:
$MRVL shows a bullish alignment across all timeframes, supported by an ADX of 27.69 confirming the strength of the current trend. Price has validated double-bottom and inverted head-and-shoulders patterns while the MACD shows a bullish crossover, and the RSI at 65.82 indicates buying momentum without being at extreme overbought levels. The detected buy absorption in volume, along with positioning above the 20, 50, and 200 EMAs, reinforces a favorable market structure toward the VAH at $246.73.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 5/5
The thesis is invalidated if price breaks below the support of $233.21, a level that matches the technical confluence required to maintain the bullish bias. The key for the projection to the targets will be to watch for sustained upside beyond the immediate resistance at $243.16 with increasing volume.
Do you think the buy volume will be enough to break the resistance of $243.16 in the short term?
๐ก This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #MRVL #trading #Futures #Bullish
๐ฏ Objective: $245.63. Will it achieve it?
๐ฏ Trading levels:
๐ข Entry: $237.87
๐ Stop Loss: $233.21
๐ TP1: $245.63
๐ TP2: $247.18
๐ TP3: $250.29
๐ Analysis:
$MRVL shows a bullish alignment across all timeframes, supported by an ADX of 27.69 confirming the strength of the current trend. Price has validated double-bottom and inverted head-and-shoulders patterns while the MACD shows a bullish crossover, and the RSI at 65.82 indicates buying momentum without being at extreme overbought levels. The detected buy absorption in volume, along with positioning above the 20, 50, and 200 EMAs, reinforces a favorable market structure toward the VAH at $246.73.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 5/5
The thesis is invalidated if price breaks below the support of $233.21, a level that matches the technical confluence required to maintain the bullish bias. The key for the projection to the targets will be to watch for sustained upside beyond the immediate resistance at $243.16 with increasing volume.
Do you think the buy volume will be enough to break the resistance of $243.16 in the short term?
๐ก This analysis is educational and not financial advice. Do your own research and decide calmly.
#crypto #MRVL #trading #Futures #Bullish
