🚀 $RARE Bulls Ready for the Next Leg? Technical Analysis
SuperRare ($RARE) is showing high-conviction price action after its recent strong impulse. We are seeing a classic bullish consolidation pattern that suggests the upward trend is far from over.
🔍 Market Structure & Analysis
Trend: Forming consistent higher lows, indicating that the selling pressure is successfully being absorbed by buyers.
Key Support: The recent pullback held firmly above the primary demand zone.
Compression: Price is currently compressing right under local resistance. In technical analysis, this "tightening" often acts as a coil before an explosive expansion.
Bias: Bullish as long as the immediate support levels remain intact.
🎯 Trade Setup
Entry Zone: 0.0265 – 0.0275
Target 1: 0.0298 (Initial Resistance)
Target 2: 0.0320 (Mid-term Target)
Target 3: 0.0350 (Breakout Extension)
Stop Loss: 0.0249
💡 Risk Management Strategy
Capital: Risk only a small portion (1-2%) of your portfolio on this trade.
Take Profit: Secure partial profits at TP1 and move your Stop Loss to entry to ensure a "risk-free" trade.
Trailing: Use a trailing stop loss after TP1 to capture maximum gains if the expansion continues.
What do you think? Is $RARE ready to fly? Let me know your thoughts in the comments! 👇
#RARE #CryptoTrading #TechnicalAnalysis #TradingSignals #SuperRare
$RARE trade here 👇
