$LUMIA
/USDT Technical Analysis Trade Strategy
Price Action: LUMIA is currently trading at $1.95, with a strong upward trend in the short term (+11.39% today). The price is approaching the upper Bollinger Band (1.955), indicating that the asset might be near a resistance zone.
Bollinger Bands: The price is testing the upper band (1.955), suggesting a potential consolidation or minor pullback soon. A break above this level could lead to a continuation of the uptrend.
Parabolic SAR (1.897): The SAR is currently below the price, indicating the trend is bullish. If the price holds above the SAR, the uptrend is likely to continue.
Volume: The trading volume is quite healthy, with 21.54M LUMIA traded in the last 24 hours. This volume supports the ongoing price increase.
24h High and Low: The price has recently hit a high of 2.054, with a low of 1.651. The recent high suggests strong resistance at 2.05, while the low indicates strong support around 1.65.
Trade Strategy:
Entry Strategy:
Enter on a pullback towards support levels (around 1.92-1.93), which aligns with the middle Bollinger Band. If the price retraces to 1.92 and holds, consider buying with the expectation of the trend continuing upwards.
Target Levels (🎯):
1. First Target (🎯1): 2.05 (previous 24h high) – This is a key resistance level. Consider taking partial profits here if the price approaches.
2. Second Target (🎯2): 2.20 – A psychological resistance area just above the 24h high. This could represent an extension if the bullish trend continues.
3. Third Target (🎯3): 2.40 – The next major psychological resistance and potential target if the price breaks past 2.20.
Stop-Loss:
Place a stop-loss below 1.85 (near the SAR level) to protect against a reversal. A close below this level would suggest the trend might be reversing.
Risk Management:
Only risk a small percentage (1-2%) of your trading capital per trade.
Monitor the Bollinger Bands and the Parabolic SAR for trend reversal signals.