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DENT/USDTPERP Potential Upward Movement

DENT/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 0.007703, 0.008871, 0.009754.

Key Support Levels: 0.006699, 0.006114, 0.004870.

Daily Chart:

The price on the higher time frame found support around the 0.006114 USDT mark where it posted a bullish engulfing pattern. This led to a reversal and a move higher in the same direction of the main trend.

DENT/USDTPERP Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame, the price succeeded to break the accumulation phase to the upside where the coin retraced to the higher end of this channel. Further movement to the upside is expected but we prefer to execute a buy limit order near the support level.

Signal Idea:

Buy Limit Order @ 0.007193

TP 1 @ 0.007680

TP 2 @ 0.008871

Stop Loss @ 0.006983

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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