$THE /USDT Technical Analysis & Trade Signal

Current Price: $1.32 (-16.14%)

24h High: $1.5974

24h Low: $1.3114

Technical Analysis:

Trend: Bearish, with a significant 16.14% drop in the last 24 hours. The price is struggling below key resistance levels, indicating continued selling pressure.

Support Levels:

Immediate support at $1.3114 (24h low).

Stronger support near $1.3000 (psychological level).

Resistance Levels:

Immediate resistance at $1.3500.

Stronger resistance at $1.4000 (previous high).

Indicators:

RSI: Around 30, entering the oversold zone, suggesting the potential for a short-term bounce.

MACD: Bearish crossover, indicating ongoing downward momentum.

Volume: Slightly high volume (23.66M THE), which indicates a strong bearish trend but could also signal exhaustion.

Trade Signal:

Momentum: Bearish, but oversold conditions suggest a possible rebound from support levels.

Trade Type: Short-term reversal or scalping.

Entry Point:

Enter near $1.3200 to $1.3114 (close to current support).

Targets 🎯:

1. Target 1: $1.3500 (Immediate resistance level).

2. Target 2: $1.4000 (Psychological resistance).

3. Target 3: $1.4500 (Strong resistance level for a possible trend reversal).

Stop Loss:

Place a stop loss below $1.3000 (below psychological support).

Risk Management:

Risk-to-reward ratio: 1:2 or better.

Position size: Adjust based on your capital and risk tolerance.

Caution:

The market sentiment for DeFi tokens like THE can be volatile, so keep an eye on broader market movements.

Trading with caution and using stop losses are essential to mitigate downside risks.

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