- The breakout chart shows a target of $15.35 from the current $2.95 level with support levels set.
- Fibonacci retracements highlight $2.67 and $2.42 as support while $1.61 remains the deeper base zone.
- The technical formation shows a bullish flag pattern where a breakout path may fuel one of the biggest rallies.
The chart shows a flag pole forming the initial surge, followed by a flag formation consolidating within parallel trend lines. This setup reflects a common bullish continuation pattern, often indicating momentum building for the next strong upward move. According to the chart, the flag breakout target is set at $15.35562, marking a multi-fold increase from current levels.
The identified support base sits between $2.42 and $2.67, with the 0.382 Fibonacci retracement zone positioned at $2.67066. Another key level is $1.61092, the lower Fibonacci retracement line, providing additional structural support. Currently, the token trades around $2.95905, showing a recovery after consolidating near the breakout area.
The breakout projection stems from extending the height of the flag pole above the consolidation zone. If momentum sustains, the measured move points directly toward the marked resistance level near $15.35. Such a projection reflects both technical strength and the potential magnitude of the rally ahead.
Support Levels and Risk Zone
The highlighted support region serves as a cushion should the token retest lower areas before continuing upward. Traders often view the 0.5 Fibonacci retracement level at $2.42493 as a crucial midpoint support zone. Breaking below this point could open the path back toward the deeper support base near $1.61.
The chart labels this area as the support base, signaling where price stability may reappear if selling pressure intensifies. This ensures that the breakout projection remains balanced against potential retracement risks.
As with all flag breakouts, sustained volume and confirmation play essential roles in validating the target.
Interestingly, the flagged support overlaps closely with the consolidation channel formed during the flag itself. This alignment strengthens the technical structure, suggesting that buyers may defend these levels more aggressively. A confirmed breakout typically relies on holding above these retracement points before advancing toward higher targets.
Question of Momentum
With the chart projecting a potential move from $2.95 to $15.35, momentum becomes the central question. Will the breakout rally sustain the pace needed to reach levels nearly five times higher? Such a move would represent one of the strongest continuation rallies in this observed timeframe. The projection relies heavily on the mechanics of the flag breakout model.
Technical traders often use this method to forecast likely continuation levels. If price maintains its breakout path, the target stands as a clear roadmap toward higher valuations.
