Technical analysis by Aluucard about Symbol MOVE: Buy recommendation (1/29/2025)

Trade Analysis & Setup: MOVE/USDT (4H Chart) Key Observations: Breakout from a Downtrend Channel 🚀 The price was in a descending channel, forming lower highs and lower lows. A strong breakout above the channel and trendline resistance has occurred. Volume spike supports the breakout, indicating strong buying pressure. Support and Resistance Levels: Support Zone: Around 0.67 - 0.70 USDT (previous resistance turned support). Next Resistance: 0.88 - 0.93 USDT (marked as a potential target zone). Retest & Confirmation Price is likely to retest the breakout zone (~0.70 - 0.74 USDT) before continuation. A successful retest with bullish confirmation would signal an entry opportunity. Volume & RSI: Volume Surge: Bullish confirmation of breakout. RSI Rising: Approaching overbought but still has room for continuation. Trade Setup: 📈 Long (Buy) Setup: Entry: $0.72 - $0.75 (on retest of the breakout) Stop Loss: Below $0.67 (to invalidate breakout) Take Profit Targets: TP1: $0.83 (previous resistance) TP2: $0.90 - $0.93 (major resistance area) 📉 Bearish Scenario (Invalidation): If price falls back into the channel and closes below $0.67, the breakout would be invalid. Potential drop towards $0.59 - $0.63 if the retest fails. Final Thoughts: ✅ Bullish breakout confirmed with strong volume and trendline break. ⏳ Waiting for retest around $0.72 - $0.74 for an optimal long entry. 🚨 Risk Management: Place stop-loss below $0.67 to avoid fakeouts. Would you like me to format this into a social media-ready post with hashtags? 📢🚀