Trading Strategy & Price Prediction
Date:August 8, 2024
Current Price: $0.6321 (+24.09%)
Key Levels:
- 24h High: $0.6434
- 24h Low: $0.4922
- Support Zone: $0.4712 - $0.5761
- Resistance Zone:$0.6586 - $0.6810
Technical Indicators:
- Bollinger Bands:
- Upper Band: $0.6623
- Middle Band: $0.5852
- Lower Band: $0.5081
- Moving Averages:
- 5-Day MA:$0.5977
- 10-Day MA:$0.4963
- RSI:67.33 (Near Overbought)
Trading Strategy:
1. Entry Point:Long position around $0.6321
2. Stop Loss:Below $0.5081
3. Take Profit:
- Short-Term:$0.6586
- Mid-Term:$0.6810
Monitor:
- RSI: If above 70, watch for potential pullback.
- Volume:Sustained high volume confirms bullish trend.
Price Prediction:
- Short-Term (1-2 weeks): Test resistance at $0.6586; potential rise to $0.6810.
- Mid-Term (1-2 months): Possible rise to $0.75 if support above $0.5761 holds.
