$CETUS
/USDT Technical Analysis and Trade Strategy 🚀🎯
Technical Analysis:
Current Price: $0.4123
Key Levels:
Support Zone: $0.3838 (SAR level) and $0.3927 (Lower Bollinger Band)
Resistance Zone: $0.4200 (24h High) and $0.4159 (Upper Bollinger Band)
Middle Band (EMA 20): $0.4043 (possible short-term support)
Trend Indicators:
Bollinger Bands: The price is currently near the upper band at $0.4159, suggesting that the asset is testing the overbought region. A potential pullback could bring the price toward the middle or lower bands.
Parabolic SAR: The SAR is at $0.3838, which acts as a critical support. A price drop toward this level could signal buying opportunities for long positions.
Volume: With 73.68M CETUS traded in the last 24 hours and volume showing relative strength, any significant changes in volume could confirm further moves.
Trade Strategy:
Entry:
Long Position: Enter if the price breaks above $0.4200 and holds above it, confirming bullish momentum. Alternatively, consider a long position near $0.3927 (Lower Bollinger Band) or $0.3838 (SAR level) for a potential rebound.
Stop Loss: Set stop loss below $0.3838 to protect against a strong reversal.
Target Levels (Key Points):
Target 1 🎯: $0.4200 (24h High) — Immediate resistance, take partial profits if the price tests this level.
Target 2 🎯: $0.4300 - $0.4350 — A secondary resistance area, expect some resistance if the bullish momentum continues.
Target 3 🎯: $0.4500 — A psychological resistance zone; further upside could be possible if the trend sustains above key support levels.
Exit Strategy:
If the price fails to hold above $0.4200, consider exiting and reassessing the trend for a potential short opportunity.
If the price continues upward, trail the stop loss just below key support levels to secure profits as the price rises.
Additional Notes:
Keep an eye on market volume and order book depth. A sharp increase in volume above the 73.68M CETUS could confirm a more significant price move.