๐ AUCTION/USDT Technical Analysis: Potential Long Trade Setup $AUCTION
๐ก Price Action Analysis:
AUCTION/USDT has seen an impressive 300% surge in the past week. However, it's crucial to approach trading with caution and not let FOMO (Fear Of Missing Out) guide your decisions.
๐ Long Entry Strategy:
Based on my analysis, Wave (III) seems to have been completed, and a correction in the form of Wave (IV) could be coming. If you're considering a long position, wait for the completion of Wave (IV). A retracement of around 40-50% from the peak of Wave (III) is expected.
๐ฏ Ideal Entry Zone: $8.88 - $10
โ๏ธ Stop Loss: $7.58
Price Targets:
Should the anticipated pattern play out, significant upside potential is possible.
Primary price targets for the long trade are set at $17 and $22.
![image](https://s3.coinmarketcap.com/static-gravity/thumbnail/large/ee2f5c0bc6b94c80873e2247e066b318.png)