Trading Analysis for $MOVE /USDT (30m)
Current Price: $0.7778 (-14.42%)
Technical Overview:
The pair has experienced significant selling pressure, with a steep decline from recent highs. Price seems to be consolidating near current levels, presenting potential opportunities based on key support and resistance zones.
Targets:
1. Target 1 (Support): $0.7500
A strong support level. Buyers may re-enter the market if price holds here.
2. Target 2 (Resistance): $0.8200
First significant resistance. A break above this level could indicate short-term bullish recovery.
3. Target 3 (Breakout Zone): $0.8800
Critical resistance at the upper range. A breakout could confirm a bullish trend reversal, leading to further upside momentum.
Action Plan:
For long positions: Enter near $0.7500 if support holds. Target $0.8200 for partial profit and $0.8800 for a full exit.
For short positions: Look for rejection at $0.8200 or $0.8800, with a target back to $0.7500.
Secure trades with stop-losses below $0.7400 for long positions or above $0.8850 for shorts.