Protocol is showing strong bullish momentum today, up over +15.5% and testing key local highs! Here is what the 15-minute chart indicates for short-term traders:
๐ Key Data Points:
Current Price: ~$5.053 USDT
24h High / Low: $5.117 / $4.365
Moving Averages (15m):
MA(7): 5.033 (Immediate Support)
MA(25): 4.807
MA(99): 4.633
Bullish Alignment: Price is trading well above MA(7), MA(25), and MA(99), confirming an intact upward micro-trend.
Local Resistance Test: $NEAR recently hit $5.117 before a slight consolidation. A strong breakout past $5.12 with expanding volume could trigger the next wave up toward $5.25โ$5.40.
Volume Check: Noticeable volume spikes accompanied the push from $4.88 to $5.11, showing clear buyer dominance, though volume is tapering slightly on consolidation.
๐ฏ Trading Setup Idea:
๐ข Bullish Scenario (Breakout / Retest Entry):
Entry: Re-entry on a confirmed dip near $5.00 โ $5.03 (MA7 support) OR on a breakout close above $5.12.
Take Profit (TP1): $5.20
Take Profit (TP2): $5.40
Stop Loss (SL): $4.92 (Below local swing support)
๐ด Bearish / Pullback Scenario:
If price loses $5.00, expect a deeper retest toward the MA(25) region at $4.80 โ $4.85.