Technical Situation Analysis (1h / 4h / Daily)
Indicators & Moving Averages: On the 1H/4H charts, the EMA 9 has decisively crossed above the EMA 21, indicating immediate buying momentum. On the daily timeframe, the price is looking to consolidate above the MA 50, pointing directly toward the EMA 200 as the main technical barrier. The position of the MA 100 supports the formation of a Golden Cross on lower timeframes.
Strength & RSI: The RSI on the 4H chart is trading around 45–50 (expansion zone), recovering after a clear bullish divergence. Buying volume is accompanying the move, with a substantial increase in the latest candles, confirming bullish interest.
Market Structure: Completion of the accumulation phase ($2.200–$2.280 range). Bullish breakout confirmed by the formation of a Higher Low (a higher low), paving the way for the move to extend.
Trade Setup (Long Setup)
Ideal Entry Zone: $2.290–$2.320 (Entry on a technical retest)
TP1 (Conservative): $2.450 (Immediate resistance and Fibonacci 0.382 level)
TP2 (Intermediate): $2.620 (Significant daily volume node)
TP3 (Moonshot): $2.950 (Fibonacci Extension 1.618 and bearish structural invalidation)
Stop Loss (SL): $2.210 (Below key support and the previous structural low)
Trade Range / Trade Thesis:
We enter the market after confirmation of the bullish breakout and a bounce off the 21 EMA, supported by the RSI exiting oversold territory. The confluence of upward-aligned moving averages and progressively increasing volume offers a solid risk-to-reward ratio of 1:3.1.