Technical analysis by Expate about Symbol MORPHO: Buy recommendation (1/12/2025)

Currently, MORPHO is trading at $2.79, sandwiched between the 0.65 and 0.618 Fibonacci levels. This zone, often called the "Golden Pocket," is a key area where buyers typically step in, indicating potential accumulation. 🔑 📊 Key Levels to Watch: 0.786 Fib: Sitting at $3.1484, this is the next immediate resistance. A break above it could confirm bullish continuation. Fib 1 at $3.6859: Expect some consolidation here before pushing higher. Target: Eyes on $4.4, halfway to the 1.618 Fib, which aligns with the resistance of the ascending channel. 🚀 💡 Game Plan: Bullish Scenario: Break above $3.1484 and target $4.4 in the coming weeks. A retest of Fib 1 ($3.6859) could provide an ideal re-entry. Bearish Scenario: Failure to hold the current golden pocket zone might result in a pullback to lower Fib levels. 🌐 Fundamental Strength: Morpho is a decentralized lending protocol on Ethereum, focused on direct peer-to-peer lending. With only 16.58% of its 1 billion token supply in circulation, there’s significant room for growth driven by platform utility and adoption. Its robust audits and efficient design make it a key player in the DeFi space. What’s your take? Will we take bullish elevator or will be waiting for the pocket to crack? 💭Morpho broke 0.5 fib and is slowly recovering. Expecting some serious move once it breaks 0.5 fib.I’m looking into a long position on MORPHO, targeting the 1.618 Fibonacci level for a potential move higher. 📉 Key Levels: Entry Zone: Around the 0.5 Fib level. Stop Loss: Positioned at the 0.236 Fib level for risk management. Target: Aiming for the 1.618 Fib level. The current structure suggests a good risk-to-reward ratio setup. If the price reacts well at the 0.5 Fib, it could signal a strong push towards the higher Fib levels. Let’s see how it plays out! 📊Long legged DOJI spotted at 1HR timeframe, this Doji usually acts as strong resistance and support levels. In theory, the breakout of the high of Doji candlestick will generate a bullish trend. Well, let's see!Ok, that was actually a WILD move! Closing 80% of my position.