âđ„ $EDEN /USDT: Breakout Imminent? The Squeeze Is Tight! đ
âHey traders! Here's the short take on the
EDEN/USDT chart:
âThe Setup: Consolidation Squeeze
âThe price is locked in a tight Symmetrical Triangle pattern between two trend lines:
âResistance: Capped by a downtrend line around $0.3920.
âSupport: Held up by an uptrend line near $0.3818.
âThis structure signals that a big, fast move is about to happen.
âMomentum Check
âRSI (55.7): Slightly bullish, but nowhere near overboughtâplenty of room to run.
âMACD (0.0006): Just signaled a weak bullish crossover. The momentum is trying to shift up.
âKey Action Levels.
âWatch these two points for confirmation:
1. âBullish Confirmation: A strong close above $0.3940. This targets the recent high of $0.4193.
2. âBearish Confirmation: A drop and close below $0.3800. This targets the support at $0.3741.
âThe Bottom Line: Wait for the price to break and confirm outside of the triangle. Don't chase it until the direction is clear!
âDisclaimer: Not financial advice. Trade smart!
âWhich side wins this battleâbulls or bears? đ