$REI TRADE SETUP.
REI/USDT 4-Hour Chart Analysis:
Overview:
REI/USDT is currently trading at 0.05139 USDT, showing a slight bullish momentum after a bounce from the 0.048 USDT trendline support.
Key Levels:
- Support:
- 0.048 USDT (trendline support)
- 0.0436 USDT (lower support)
- 0.0386 USDT (strong support)
- Resistance:
- 0.0559 USDT (next resistance zone)
- 0.0595 USDT (major resistance)
- 0.0692 USDT (upper resistance level)
Trend and Patterns:
- Bullish Trendline: REI is respecting the ascending trendline from previous lows, suggesting continuation of the bullish trend if support holds.
- RSI: The RSI has moved into bullish territory, confirming positive momentum.
Bullish Case:
- A breakout above 0.0559 USDT could trigger a move toward 0.0595 USDT.
- If the trendline support at 0.048 USDT continues to hold, further upward movement can be expected.
Bearish Case:
- Failure to maintain above 0.048 USDT might lead to a deeper retracement toward 0.0436 USDT.
Strategy:
- Entry:
- Consider buying near 0.051 USDT with a stop-loss just below 0.048 USDT.
- Take Profit:
- TP1:0.0559 USDT
- TP2: 0.0595 USDT
- Stop Loss:
- Below 0.048 USDT.
Conclusion:
The bullish momentum in REI/USDT could lead to a test of resistance at 0.0559 USDT. However, any break below the trendline support at 0.048 USDT could indicate a short-term bearish move.
