$LUNA
/USDT Technical indicators Technical Analysis and Trade Strategy with Three Target levels:🎯
Technical Analysis:
Price: $0.7665 (+3.76%)
Bollinger Bands:
Upper Band: $0.7573 (Resistance level)
Middle Band: $0.7281 (Support zone)
Lower Band: $0.6988 (Support zone)
Parabolic SAR: $0.7201 (Support)
24h High: $0.7790
24h Low: $0.6839
The price is currently trading just above the middle of the Bollinger Bands, showing moderate bullish momentum. The key resistance lies around $0.7790 (24h high), while the support levels are near $0.7281 (Middle Band) and $0.7201 (SAR).
Trade Strategy:
1. Bullish Scenario (Breakout Potential):
Entry Point: Enter a long position if the price breaks above the resistance at $0.7790 with strong volume and momentum.
Target 1: $0.7900 (previous resistance area and a psychological level)
Target 2: $0.8000 (round number and potential resistance)
Target 3: $0.8200 (next possible resistance area based on market structure)
Stop Loss: Set below the support at $0.7201 (SAR level) to manage risk.
2. Bearish Scenario (Support Test):
Entry Point: Enter a short position if the price breaks below the SAR at $0.7201, especially with increasing selling volume.
Target 1: $0.7000 (near the lower Bollinger Band at $0.6988)
Target 2: $0.6900 (next support area)
Target 3: $0.6800 (24h low and further support)
Stop Loss: Set above $0.7790 to limit the risk of a breakout.
3. Range-Bound Strategy (Choppy Market):
Entry Point: If the price is range-bound between $0.7281 (Middle Band) and $0.7790 (Resistance), consider trading between these levels.
Buy near $0.7281 and target $0.7790.
Sell near $0.7790 and target $0.7281.
Stop Loss: Keep a tight stop below $0.7201 or above $0.7790 depending on position.
Key Considerations:
Volume: Watch for increasing volume when approaching the key resistance levels for confirmation of breakout or reversal.
Risk Management: Ensure proper position sizing and stop-loss placement to manage volatility.
