The PROMPT market is showing a symmetrical triangle formation, indicating readiness for a new direction. A breakout above $0.292 may lead to a price increase towards $0.6446.
Symmetrical Triangle Structure and Key Levels
The symmetrical triangle on the 4-hour chart of the PROMPT/USDT pair suggests a possible change in direction in the short term. This pattern is formed by two converging trendlines: one descending from the $0.44 region and the other ascending from around $0.21. The current price stands at approximately $0.2687, reflecting a 4.8% increase compared to the previous value.
Support, Resistance, and Market Outlook
Immediate support is established at $0.2532, with resistance noted at $0.292. Surpassing this resistance may initiate a prolonged rally, while a dip below support could see the price drop to $0.24 or lower. From a broader perspective, an upside breakout may attract traders seeking to confirm a trend reversal.
Potential Scenarios for Development
If PROMPT breaks above the $0.292 resistance, it could rise to $0.6446 in the medium term. Conversely, if the price falls below $0.2532, it may drop to $0.2400 or $0.22. The market remains within the triangle, yet the decreasing distance between the trendlines suggests an impending breakout is possible.
The current situation in the PROMPT market exhibits uncertainty, yet the proximity of support and resistance levels indicates the potential for significant price movement. Traders remain attentive to changes.
