Short Term Price Target: Long $0.12078 - $0.13126
2024-12-12
Category: gaming

LONG position initiated based on completion of ABC correction pattern.

 Technical Analysis of Momentum Indicators 
 
 RSI currently at 57, indicating favorable buying conditions
 Stochastic RSI (Daily):
 Currently in oversold territory, with bullish signal forming with K line approaching D line crossover
 Rate of Change (ROC) positive (above 0), confirming bullish momentum
 

All momentum indicators are showing signs the correction is over and now have a bullish bias.

 Price Targets 
 
 Short-term target zone: $0.12078 - $0.13126
 Based on 1.618 Fibonacci extension level ($0.12078)
 Monthly resistance level ($0.13126)
 

 Trading Plan 
Maintaining LONG position based on convergence of bullish indicators, monitoring price action until the stochastic RSI reaches the overbought region on the daily at which point I will review price action for potential reversal.

Medium-term analysis and price projections to follow in subsequent idea.

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