STORJUSDT 4H TF - Bullish

Key Observations:
1. Downtrend Breakout:

• The price broke out of the descending trendline, signaling potential bullish momentum.
  
• Post-breakout, the price is consolidating above the previous resistance (now support) near $0.4482.
  

2. Support Levels:

• $0.4482: Immediate support zone where the breakout occurred.
  
• $0.4300–$0.4400: Strong demand zone (highlighted in blue) that previously held the price.
  

3. Resistance Levels:

• $0.5013: Significant resistance; if breached, the price may test $0.5539.
  
• $0.5539: A major resistance zone from previous highs.
  

4. Current Price Action:

• The price is testing $0.4583, trying to establish a higher low.
  
• Bulls need to defend $0.4482 to maintain momentum.
  

Potential Scenarios:
Bullish Case:

• If the price holds above $0.4482, it may retest $0.5013.
  
• A breakout above $0.5013 could lead to a move toward $0.5539.
  

Bearish Case:

• A rejection near current levels and a drop below $0.4482 could lead to a retest of the blue demand zone.
  
• Losing the $0.4300 zone would invalidate the bullish breakout.
  

Trading Plan:
Entry:

• Look for long positions near $0.4482, with tight stop-losses below $0.4400.
  

Targets:
$0.5013
$0.5539

Stop-Loss:
Below the blue zone at $0.4300 to manage risk.