đ $PROM is showing a potential technical setup!
This weekly chart displays PROM in an ascending triangular consolidation pattern, attempting to break above a descending trendline that has suppressed price action.
đ The Technical Setup:
⢠The Pattern: Ascending Triangle / Trendline Breakout Attempt
⢠Short-term Target: 6.850
⢠Macro Objective: N/A based on visible chart
⢠Market Structure: Bullish consolidation
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 4.660 - 5.000
⢠Resistance: 6.432
⢠Breakout Level: 6.500
⢠Stop Loss / Invalidation: 4.500
đ Confirmation:
⢠Volume: Standard weekly volume supporting price structure
⢠Momentum: Price testing the upper diagonal resistance
⢠Trend: Upward bias with higher lows
â ď¸ Invalidation:
A weekly close below the 4.500 support zone would invalidate the current bullish structure.
PROM is currently challenging a significant overhead trendline, requiring a clean breakout above 6.500 for continuation.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#prom #crypto #BinanceSquare #Binance #cryptotrading
This weekly chart displays PROM in an ascending triangular consolidation pattern, attempting to break above a descending trendline that has suppressed price action.
đ The Technical Setup:
⢠The Pattern: Ascending Triangle / Trendline Breakout Attempt
⢠Short-term Target: 6.850
⢠Macro Objective: N/A based on visible chart
⢠Market Structure: Bullish consolidation
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 4.660 - 5.000
⢠Resistance: 6.432
⢠Breakout Level: 6.500
⢠Stop Loss / Invalidation: 4.500
đ Confirmation:
⢠Volume: Standard weekly volume supporting price structure
⢠Momentum: Price testing the upper diagonal resistance
⢠Trend: Upward bias with higher lows
â ď¸ Invalidation:
A weekly close below the 4.500 support zone would invalidate the current bullish structure.
PROM is currently challenging a significant overhead trendline, requiring a clean breakout above 6.500 for continuation.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#prom #crypto #BinanceSquare #Binance #cryptotrading
