(IQ) is trading at approximately $0.00783 against Tether (USDT).
Recent Technical Analysis:
- 15-Minute Chart: The price is near the resistance of a channel, indicating potential bearish pressure. Additionally, a bearish harami pattern has been identified, suggesting a possible downward movement.
- 2-Hour Chart: The Relative Strength Index (RSI) is above 50, indicating bullish momentum. The Commodity Channel Index (CCI) is oversold (below -100), suggesting potential for upward movement.
Trade Signal:
- Entry Point: Consider entering a long position near $0.00720, aligning with recent support levels.
- Targets:
- Target 1: $0.00800
- Target 2: $0.00850
- Stop Loss: Set a stop loss at $0.00680 to manage potential downside risk.
Pro Tip: Given the mixed technical indicators, it's advisable to monitor trading volumes and broader market trends to confirm bullish movements. Adjust 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.