🚀 $NIGHT is showing a potential technical setup!
The asset is displaying a clear recovery pattern on the weekly timeframe after a prolonged downtrend, currently consolidating momentum above local support.
📈 The Technical Setup:
• The Pattern: Recovery/Reversal after deep Fib retracement
• Short-term Target: 0.03158
• Macro Objective: 0.04000
• Market Structure: Local bottom formation and trend reversal
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.01803
• Resistance: 0.03158
• Breakout Level: 0.02800
• Stop Loss / Invalidation: 0.02000
📊 Confirmation:
• Volume: Standard weekly accumulation volume
• Momentum: Positive momentum with consecutive green weekly candles
• Trend: Initiation of a short-term bullish trend following a major downtrend
⚠️ Invalidation:
Closing below the 0.02000 support level would invalidate the current reversal setup.
The asset is showing clear signs of recovery after testing the 2.618 Fib extension level. Continued buying pressure is needed to challenge the major resistance at 0.03158.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#night #crypto #BinanceSquare #Binance #TechnicalAnalysis
The asset is displaying a clear recovery pattern on the weekly timeframe after a prolonged downtrend, currently consolidating momentum above local support.
📈 The Technical Setup:
• The Pattern: Recovery/Reversal after deep Fib retracement
• Short-term Target: 0.03158
• Macro Objective: 0.04000
• Market Structure: Local bottom formation and trend reversal
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.01803
• Resistance: 0.03158
• Breakout Level: 0.02800
• Stop Loss / Invalidation: 0.02000
📊 Confirmation:
• Volume: Standard weekly accumulation volume
• Momentum: Positive momentum with consecutive green weekly candles
• Trend: Initiation of a short-term bullish trend following a major downtrend
⚠️ Invalidation:
Closing below the 0.02000 support level would invalidate the current reversal setup.
The asset is showing clear signs of recovery after testing the 2.618 Fib extension level. Continued buying pressure is needed to challenge the major resistance at 0.03158.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#night #crypto #BinanceSquare #Binance #TechnicalAnalysis
