$ATM
/USDT Technical Analysis
Current Price: $2.24
Bollinger Bands (20, 2):
Upper Band: 2.288
Middle Band: 2.208
Lower Band: 2.129
SAR (0.02, 0.2): 2.208
24h High: 2.259
24h Low: 2.112
Trend: The current trend is bullish, as indicated by the SAR above the price and the price being close to the upper Bollinger Band, signaling strong upward momentum.
Support and Resistance:
Immediate Support: 2.208 (SAR level)
Immediate Resistance: 2.259 (24h high)
Price Action: The price is hovering near the upper Bollinger Band, suggesting potential for a slight pullback or consolidation before a breakout.
Trade Strategy
Entry Strategy:
Long Position (Buy):
Entry Point: Enter at $2.24–2.25 if the price holds near the support levels (around 2.208) or shows a breakout above the 24h high of 2.259.
Confirmation: Look for a bounce off the 2.208 support level or a confirmed break above 2.259 with volume support.
Exit Strategy:
Target Keys 🎯:
Target 1: $2.288 (Upper Bollinger Band)
Target 2: $2.30–2.32 (Next resistance zone above the Bollinger Bands)
Target 3: $2.35 (Psychological resistance level and extension from previous high)
Stop Loss Strategy:
Stop Loss: Set below 2.208 to protect against bearish reversals. If the price falls below 2.112, reconsider the trade as the bullish trend may have reversed.
Momentum Indicators
Momentum: The price is trending upwards with solid volume, indicating strong bullish momentum. Monitor for any weakening of the momentum if the price approaches 2.259 without breaking it decisively.
Potential Reversal Risk: If the price begins to approach the lower Bollinger Band (around 2.129), it could indicate weakening upward momentum, and further confirmation of a trend reversal should be considered.
Summary:
Bullish Strategy: Enter on a breakout above 2.259 or near the 2.208 support. Aim for targets of $2.288, $2.30–2.32, and $2.35.
Stop Loss: Place below 2.208 or the recent low (2.112) to manage downside risk effectively