$IDEX /USDT Technical Analysis Report!🔥💯
The IDEX/USDT pair is currently trading at $0.06505, reflecting a strong 19.25% increase in the last 24 hours. The market showed a massive bullish spike, reaching a high of $0.09090, but encountered resistance, leading to profit-taking and a retracement phase.
Key Levels to Watch:
• Immediate Support: $0.06000 – A critical level where buyers may step in.
• Resistance Zone: $0.07000 - $0.07500 – Potential profit-booking levels on short-term moves.
Trade Opportunities:
• Long Entry: Enter near $0.06200–$0.06400 with a stop loss at $0.05900. Target levels: $0.07000 and $0.07500.
• Short Entry: If price fails to break $0.07000 convincingly, short positions can target $0.06000 with stops above $0.07200.
Market Outlook:
The sharp rally followed by a retracement indicates a consolidation phase. If bulls defend $0.06000, a breakout above $0.07000 could retest $0.09000. However, failure to hold $0.06000 might signal further downside toward $0.05200. Traders are advised to stay cautious, secure profits at key levels, and manage risks effectively.