$STRAX
/USDT Technical Analysis and Trade Strategy🚀🎯🔥
Technical Overview:
Current Price: 0.07022, up by 4.51% in 24 hours
24h High: 0.07096
24h Low: 0.06708
24h Volume (STRAX): 28.64M
24h Volume (USDT): 1.97M
Key Levels to Watch:
Support Zone: 0.06708 (Key support level, potential for price rebound)
Immediate Resistance: 0.07096 (Resistance zone, a breakout could signal further upside)
Next Target: 0.0750 (Next resistance level, psychological round number)
Technical Indicators:
RSI: 58, indicating moderate bullish momentum, not overbought yet
MACD: Positive, showing upward momentum with potential for further gains
Bollinger Bands: Price nearing the upper band, suggesting potential breakout or continuation if the resistance at 0.07096 is breached
Trade Strategy:
1. Target 1: 0.07096
Entry: Around 0.0680 to 0.0700 if a slight pullback occurs
Stop Loss: Below 0.0670 to protect from downside risk
2. Target 2: 0.0750
Entry: After confirming a break above 0.07096 with strong volume
Stop Loss: Set stop loss to 0.0700 to lock in profits
3. Target 3: 0.0780
Entry: If the momentum continues to rise after 0.0750 breach
Stop Loss: Tighten stop to 0.0720 to secure profits
Trade Setup:
Entry Zone: 0.0680 to 0.0700 (on a pullback)
Risk-Reward Ratio: Aim for a risk-reward ratio of 1:2 or higher
Exit Strategy: Scale profits as resistance levels are tested, adjust stop-losses to protect gains
Conclusion: STRAX/USDT is showing bullish momentum, with strong support at 0.06708 and resistance at 0.07096. A break above the resistance could lead to further upside, targeting 0.0750 and beyond. Consider entering on pullbacks near 0.0680 and adjust stop-losses as targets are met.
