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1INCH
1INCH experienced a notable rally recently, encountering resistance at $0.39, which subsequently led to a pullback. This upward movement was largely fueled by a double bottom pattern, aligning with a broader market uptrend. Although the price has retraced by over 30% from the $0.39 peak, the overall outlook remains bullish.
Currently trading around $0.265, 1INCH is expected to find solid support within the $0.26 trading volume cluster, potentially offering a favorable buying opportunity. Consider entry points between $0.25 and $0.26, slightly below the 0.5 Fibonacci retracement level. Set incremental take-profit targets at the previous high of $0.39, followed by $0.4442, and $0.63. Implement a stop-loss order at $0.24 to manage risk.
Reference Levels:
Direction: Long
Entry: $0.25 - $0.26
Take Profit: $0.39 / $0.4442 / $0.63
Stop Loss: $0.24
DOGE
DOGE is currently navigating within an ascending channel. It recently broke above an internal downtrend line (highlighted in yellow) but met resistance at the channel's upper boundary, around $0.287, resulting in a pullback.
Monitor price action closely around $0.215, a level that coincides with the 0.5 Fibonacci retracement and the channel's midpoint, suggesting significant support. If the price maintains stability above this level, consider initiating a long position. More conservative investors might prefer waiting for a dip towards $0.20. Establish take-profit levels at $0.315, $0.375, and $0.43. A stop-loss should be placed just below $0.1884. Should the price fall below $0.1884, consider waiting for a retest of the channel's lower boundary before entering a long position.
Reference Levels:
Direction: Long
Entry: $0.215 / $0.2
Take Profit: $0.315 / $0.375 / $0.43
Stop Loss: $0.1883
LTCLTC is also trading within an ascending channel, mirroring DOGE's pattern. It similarly broke above an internal downtrend line (yellow) but encountered resistance near $122. The current price is approximately $108, representing an 11% decrease from $122.
Should the price continue its decline, it may test the $105 level. This area aligns with the 0.618 Fibonacci retracement and a trading volume cluster, indicating robust support. If the price holds above $105, a rally towards $140 becomes plausible. Consider entering a long position within the $102 - $105 range. Set take-profit targets at $135, $140, and $150. Implement a stop-loss below the previous low of $99.6.
Reference Levels:
Direction: Long
Entry: $102 - $105
Take Profit: $135 / $140 / $150
Stop Loss: $99.4
Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.
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