š $PROVE Market Update | Technical Analysis
This coin has taken a strong bounce from the support zone and printed a powerful bullish engulfing candle, completely engulfing the previous candles ā a clear sign of strong buying momentum.
Now, the price has once again reached a major resistance area, where it has been rejected 3ā4 times before, clearly visible on the chart.
š Key Observation: If the price gives a strong close above this resistance on the 1-hour timeframe, we can expect a strong upside continuation move.
šÆ Upside Targets:
0.410
0.420
0.430
ā³ Trading Plan: š Wait for proper breakout confirmation.
š Enter only after a clean 1H candle close above resistance.
š Place Stop Loss below the resistance zone.
ā ļø Risk Management: Trading without a stop loss is high risk, so always follow proper risk management.
š Disclaimer: I am not responsible for your portfolio.
This analysis is for educational purposes only.
Always trade at your own risk.
