$VANA /USDT Technical Analysis

Current Price:

17.229 USDT (+3.08%)

Key Levels:

Support Level 1: 16.500 USDT

Support Level 2: 15.800 USDT

Resistance Level 1: 17.719 USDT (24h High)

Resistance Level 2: 18.300 USDT

Indicators:

1. Moving Average (MA):

50 EMA: Price trading above, indicating bullish momentum.

200 EMA: Also below current price, showing long-term bullish trend.

2. RSI (Relative Strength Index):

Current RSI: 65 (Approaching overbought zone but still bullish).

3. MACD (Moving Average Convergence Divergence):

MACD line above the signal line, suggesting upward momentum.

4. Volume Analysis:

Increased 24h trading volume indicates strong interest from buyers.

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Trade Signal:

Trend: Bullish

Momentum: Strong upward trend supported by volume and RSI.

Entry Point:

Enter near 17.200 - 17.300 USDT if price holds above this zone.

Targets 🎯:

1. Target 1: 17.800 USDT

2. Target 2: 18.300 USDT

3. Target 3: 19.000 USDT

Stop Loss:

Place stop loss below 16.500 USDT to manage risk.

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Trading Strategy:

Short-Term Trade: For quick gains, book profits at Target 1 (17.800 USDT).

Mid-Term Trade: Hold for Target 2 (18.300 USDT) if momentum sustains.

Long-Term Trade: Aim for Target 3 (19.000 USDT) if the bullish trend continues.

Caution:

Monitor global market conditions and ensure tight risk management. If RSI crosses 70, prepare for possible retracement.

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