$Q ๐จ
**Coin $Q | Is it gearing up for a new rally, or is the correction not over yet?**
After a strong surge of more than 100%, the coin is currently trading near **0.1230** within an ascending channel on the 5-minute chart, with price consolidating after the sharp move. Using Elliott Wave analysis, we are watching for the correction to potentially complete at **0.1180**, followed by the start of a new upward waveโbut confirmation has not appeared yet.
๐ข **Scenario 1: The uptrend continues**
Holding above 0.1180 and breaking through 0.1280, followed by the previous high of **0.13502**, would support further gains. The targets would be:
- First target: 0.1350
- Second target: 0.1400โ0.1450
- Third target: 0.1500โ0.1580, provided momentum continues and previous resistance levels are broken.
๐ด **Scenario 2: Downward correction**
Failure to break through resistance and a drop below **0.1180** could weaken the bullish scenario and open the way to test:
- First support: 0.1100โ0.1120
- Second support: 0.0950โ0.0980
- Strongest support: 0.0920, followed by 0.0860โ0.0800 if selling pressure continues.
๐ **Key levels to watch:** The 0.1180 area is important for assessing the strength of the correction, while a break above 0.13502 and holding above it would support the possibility of further gains. It is best to wait for confirmation rather than chase the price after a sharp rise.
โ ๏ธ This analysis is for educational purposes only and is not financial advice. These scenarios are possibilities, not guarantees of price movement.
#QUSDT #TechnicalAnalysis # #BinanceSquare
**Coin $Q | Is it gearing up for a new rally, or is the correction not over yet?**
After a strong surge of more than 100%, the coin is currently trading near **0.1230** within an ascending channel on the 5-minute chart, with price consolidating after the sharp move. Using Elliott Wave analysis, we are watching for the correction to potentially complete at **0.1180**, followed by the start of a new upward waveโbut confirmation has not appeared yet.
๐ข **Scenario 1: The uptrend continues**
Holding above 0.1180 and breaking through 0.1280, followed by the previous high of **0.13502**, would support further gains. The targets would be:
- First target: 0.1350
- Second target: 0.1400โ0.1450
- Third target: 0.1500โ0.1580, provided momentum continues and previous resistance levels are broken.
๐ด **Scenario 2: Downward correction**
Failure to break through resistance and a drop below **0.1180** could weaken the bullish scenario and open the way to test:
- First support: 0.1100โ0.1120
- Second support: 0.0950โ0.0980
- Strongest support: 0.0920, followed by 0.0860โ0.0800 if selling pressure continues.
๐ **Key levels to watch:** The 0.1180 area is important for assessing the strength of the correction, while a break above 0.13502 and holding above it would support the possibility of further gains. It is best to wait for confirmation rather than chase the price after a sharp rise.
โ ๏ธ This analysis is for educational purposes only and is not financial advice. These scenarios are possibilities, not guarantees of price movement.
#QUSDT #TechnicalAnalysis # #BinanceSquare