$ESP | Technical Analysis
ESP/USDT Perpetual | 2H | Binance
Price: 0.07027
Bias: Cautiously Bullish
Pattern: Descending Wedge
Pattern Analysis
$ESP is forming a textbook Descending Wedge. Lower highs but higher lows — selling pressure is weakening. Price just bounced off the lower trendline. Breakout decision is very close.
Volume Profile
🔵 POC: 0.07557
🟢 VAH: 0.09000 to 0.09500
🔴 VAL: 0.06500 to 0.06600
The POC at 0.07557 aligns perfectly with the upper wedge trendline. Triple confluence resistance. A confirmed close above this level triggers the breakout.
EMA Structure
🔴 EMA 20: 0.07096 resistance
🟠 EMA 50: 0.06964 support
🟢 EMA 200: 0.06931 critical support
Holding above EMA 200. EMAs converging. Volatility expansion is coming.
Key Levels
Resistance: 0.07557 POC plus wedge trendline
Support: 0.06931 EMA 200 plus lower trendline
Two levels. One decision.
✅ Bullish Breakout
Trigger: 2H close above 0.07557
Target 1: 0.08500
Target 2: 0.09500
❌ Bearish Breakdown
Trigger: 2H close below 0.06800
Target: 0.06500 then 0.06000
Do not anticipate the breakout. Let the candle close confirm it. Patience is the edge.
💬 Which way do you think $ESP breaks?
Drop your thoughts below 👇
⚠️ Not financial advice.
DYOR.
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