Trading Analysis for $FXS /USDT (30m)
Current Price: $3.360 (+32.44%)
Technical Overview:
$FXS /USDT has shown a massive surge in price, indicating strong bullish momentum. However, after reaching a peak, the price is consolidating, creating potential trade setups at key levels.
Targets:
1. Target 1 (Support): $3.200
Immediate support level. If the price holds here, it could act as a base for another upward move.
2. Target 2 (Resistance): $3.600
Key resistance level to watch. A break above this level may signal a continuation of the bullish rally.
3. Target 3 (Breakout Zone): $3.800
A critical breakout zone. A breakout here could lead to a strong bullish extension with new highs.
Action Plan:
Long Positions: Enter near $3.200 if support holds. Target $3.600 for partial profit-taking and $3.800 for a full exit.
Short Positions: Consider entries near $3.600 or $3.800 if rejection occurs, targeting $3.200.
Risk Management: Use stop-losses below $3.150 for long trades and above $3.850 for short trades.