$DYM is currently stabilizing at a multi-month demand zone after a sustained correction. We are observing a significant deceleration in selling pressure followed by a cluster of bullish divergences, suggesting a momentum shift is imminent as the token holds key historical support.
Trade Plan
Entry range: 0.0385 - 0.0415
Stop Loss: 0.0360
TP1: 0.0480
TP2: 0.0565
TP3: 0.0650
Why this setup
* Formation of a potential double bottom on the 4H timeframe with price successfully reclaiming the 0.040 level.
* Key support holding at the 0.037 - 0.039 range, which align with recent local lows and psychological support.
* Bullish RSI divergence on the 4H and Daily charts indicates that while price made lower lows, the underlying momentum is trending upward.
* Increasing accumulation volume near the range lows suggests institutional interest is returning at these discounted levels.
Will the current stabilization lead to a sustained trend reversal toward the 0.060 resistance, or are we looking at a brief consolidation before a final liquidity sweep of the 0.035 lows?
Buy and Trade $DYM
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