Price is showing early signs of reversal from long-term bottoming.
$0.22–$0.23: Strong base (multiple touches, long wicks).
$0.187 (Stop Zone): Critical invalidation level—below this, the bullish structure collapses.
$0.2996 (POC): This is the key Point of Control—a magnet for price.
$0.3691: First breakout resistance.
$0.4387: Mid-level target.
$0.5912: Major resistance to unlock higher levels.
Multiple double bottom formations and W-patterns are evident.
The long descending wedge has likely resolved with a bullish bias (as per green arrows).
Elliott Waves: Potential Wave 1 complete with Wave 2 correction—setting up for Wave 3 (strongest wave) upwards.
Heavy accumulation visible between $0.15–$0.30.
Thin volume overhead means a breakout could move rapidly once above $0.40–$0.50.
Sequential counts suggest exhaustion of the downtrend and early trend reversal potential.
Scenario | Target Zones | Trigger |
---|---|---|
Bullish Breakout: | $0.30 → $0.43 → $0.59 → $0.90+ | Weekly close above $0.30 with volume |
Range-bound Accumulation: | $0.22 → $0.30 | Price holds base but lacks breakout strength |
Bearish Breakdown: | $0.187 or lower | Break of $0.22 invalidates bullish setup |
Base Target: $0.43–$0.59
Stretch Target: $0.90–$1.10+
Some long-term projections on the chart even hint at $1.80+ but that’s ambitious unless broader altcoin rally happens.
Entry: $0.23–$0.25 (current zone ideal for accumulation)
Stop Loss: $0.18
Target 1: $0.30 (POC)
Target 2: $0.43
Target 3: $0.59+
Optional Target 4: $0.90+
👉 Risk/Reward is excellent in this zone with minimal downside vs high upside.