EGLDUSDT is testing the daily resitance

1 мар. 2022 г.

the price is creating a descending channel on the monthly support on the daily timeframe. The market is testing an important resistance right now on the 162$.

On the 4h timeframe, we can see a breakout from the 4h dynamic resistance.

How to approach?
We are waiting for a breakout from the 160$ and retest the current resistance as new support. Only if the price is going to satisfy our rules we can open a new long position
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Follow the Shrimp 🦐

Keep in mind.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  

2 мар. 2022 г.

Заметка

The price created a double bottom on the weekly support and now it's testing the daily resistance on 160$.
We want to see a clear breakout from that level!

let's see!