Velesto is in the cusp of breaking Resistance level R1 at 0.19, however there are many evidence that Bullish momentum is strong as seen on DMI preceded by earlier Exhaustion Gap, V-bottom and violation of a valid DTL. The price subsequently moving above the Resistance turns support level, followed by another Bullish Flag formation as another continuation Bullish signal. Should the price moving above resistance at 0.19, our price target is at 0.25 (TP1) and 0.35 (TP2). On the opposite scenario, price movement below 0.16 could push the price lower.
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Disclaimer: Our content is intended to be used and must be used for technical analysis education purposes only.