$ELF /USDT Alert
Current Price: $0.3714
This is a key moment for $ELF as it’s trending within a descending channel on the 15-minute chart, showing short-term bearish pressure. 📉 Let’s break it down:
Support: $0.3700
Resistance: $0.3760
Entry Strategy:
Long Trade: Consider entering above $0.3760 once we see a confirmed breakout above the resistance, targeting $0.3820 and $0.3850.
🛑 Stop Loss: Set at $0.3700 to manage risk.
Short Trade: If the price breaks below $0.3700, it may trigger a short entry. Look for targets at $0.3650 and $0.3620.
🛑 Stop Loss: Use $0.3760 as a stop loss for short positions.
This setup provides a well-defined risk-to-reward ratio, and the descending channel suggests a potential for significant movement once broken.
Stay sharp and monitor for that breakout or breakdown for a strategic entry! 🚀📉
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