#ReiNetwork

CURRENT OBSERVATIONS:
1. Price: $0.05804, down by 5.73% in the last 24 hours.
2. Key Levels:
24h High: $0.06183.
24h Low: $0.05718.
3. Indicators:
MA(60): $0.05798, acting as a dynamic support/resistance.
MACD: Flat, suggesting a potential consolidation phase.
Volume: Slight spikes, but nothing major, indicating low volatility.

POTENTIAL TRADING STRATEGIES:
1. Long Entry Plan:
Entry Zone:
Wait for confirmation of a reversal at the $0.05718 (24h low) support. Look for strong green candles with increasing volume.
Break above $0.0585 with a retest confirming support.
Stop Loss: Place below $0.05700 (previous low).
Take Profit Levels:
TP1: $0.06000 (near resistance level).
TP2: $0.06150 (24h high).
Contingency Plan:
If the price drops below $0.057, re-evaluate for a potential short trade.

2. Short Entry Plan:
Entry Zone:
Enter if the price breaks below $0.05700, signaling bearish momentum.
Confirm with MACD crossing into negative territory.
Stop Loss: Place above $0.05850 (minor resistance).
Take Profit Levels:
TP1: $0.05550 (next psychological support).
TP2: $0.05400 (historical key level if visible on higher timeframes).
Contingency Plan:
If the price reclaims $0.05850 with strong volume, cut losses and reassess for long opportunities.

RISK MANAGEMENT:
Position Sizing: Risk no more than 1-2% of your account per trade.
Reward-to-Risk Ratio: Aim for at least 2:1 or higher.
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Signals to Watch:
1. Volume Spikes: Strong volume confirms breakout/breakdown scenarios.
2. MACD:
A bullish crossover confirms momentum for long trades.
A bearish crossover supports short trades.
3. MA Crossovers:
Bullish if MA(10) crosses above MA(60).
Bearish if MA(10) drops below MA(60).

Would you like to dive deeper into higher timeframes (e.g., 4H, 1D) for confirmation?
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Thanks 👍
$REI