Technical Analysis for $BICO

/USDT

Current Price: $0.3816

24h Change: +1.60%

Market Structure: The price is in a bullish trend, showing strong upward momentum after breaking above the previous resistance zone.

Support & Resistance Levels:

Support: $0.3580 (24h Low)

Resistance: $0.3956 (24h High)

Key Indicators:

RSI: Moderate at around 60, indicating that there is room for further upward movement without being overbought.

MACD: Positive and showing bullish crossover, suggesting continued upward momentum.

EMA: Price above short-term EMAs (9 and 21), indicating bullish short-term trend.

Trade Signals:

1. Bullish Entry: Buy above $0.3850 with confirmation of sustained upward movement.

2. Targets:

Target 1: $0.3950 (near 24h high, short-term target).

Target 2: $0.4050 (next resistance level).

Target 3: $0.4200 (extended target for further bullish continuation).

Trade Momentum:

Strong positive momentum in the short-term due to the price breaking above recent resistance levels and staying above the key EMAs. RSI and MACD support upward movement, indicating a strong buying pressure.

Recommendation:

Buy near current levels with targets at $0.3950, $0.4050, and $0.4200.

Keep stop loss near $0.3580 for managing downside risk.

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