As of January 9, 2025, Metal DAO (MTL) is trading at approximately $1.29 against Tether (USDT).
Recent Technical Analysis:
- 1-Hour Chart: The price has experienced a significant increase, indicating a bullish trend. The Relative Strength Index (RSI) is at 54.21, suggesting a slight bullish bias. The Moving Average Convergence Divergence (MACD) is just above the signal line, also indicating mild bullish momentum.
- 15-Minute Chart: The SuperTrend indicator has signaled a bullish reversal, and the Williams %R is oversold, indicating potential upward movement. However, the price is currently under the first support level, suggesting caution.
Trade Signal:
- Entry Point: Consider entering a long position near $1.25.
- Targets:
- Target 1: $1.40
- Target 2: $1.50
- Stop Loss: Set a stop loss at $1.15 to manage potential downside risk.
Pro Tip: Monitor trading volumes and broader market trends to confirm bullish movements. Given the current bullish indicators, consider adjusting your stop loss to lock in profits as the price moves in your favor.
Disclaimer: Cryptocurrency trading involves significant risk. Conduct thorough research and consider your risk tolerance before making any trading decisions.
