$LQTY /USDT Technical Analysis

Current Price: $2.217

24h Change: +25.33%

Trend: Bullish

Key Levels:

Support: $2.200

Resistance: $2.270

Higher Resistance: $2.300

Technical Indicators:

RSI (14): Currently trending towards overbought conditions, indicating potential for a minor pullback or consolidation.

MACD: Bullish crossover, suggesting continued upward momentum in the near term.

Moving Averages (50 & 200): Both moving averages are aligned upwards, indicating the overall bullish trend.

Trade Signal:

Buy Entry: Enter at $2.220 – $2.230, once the price stabilizes after any potential minor pullback.

Target Levels:

Target 1: $2.270 (Immediate resistance level)

Target 2: $2.300 (Next resistance level, potential breakout point)

Target 3: $2.350 (Extended target if bullish momentum continues strongly)

Stop Loss:

Place stop loss at $2.150, just below the support level, to limit losses if the price moves against the position.

Trade Momentum:

The current momentum is strongly bullish with the price increasing by 25.33% in the last 24 hours. However, the RSI suggests the possibility of a small pullback, so careful monitoring is necessary. If the price holds above $2.200 and breaks the resistance at $2.270, it could continue towards the $2.300 and $2.350 levels.

Trade Recommendation:

Long Position with a focus on profit-taking at each target level: $2.270, $2.300, and $2.350.

Be mindful of the overall DeFi sector performance and market conditions for any external influences.

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