$PROS Next target analysis:
For a quick short-term analysis of the PROS/USDT pair based on the chart provided:
Key Levels:
Current Price: 0.9115 USDT
Immediate Resistance: 1.00 - 1.12 USDT
Immediate Support: 0.78 USDT (EMA 7)
Short-Term Analysis:
1. Bearish Signals:
RSI is nearing the overbought level (close to 70), suggesting a potential for a price correction.
The recent candle shows a long upper wick, indicating selling pressure and possible profit-taking at higher levels.
Volume seems to have peaked, which might suggest the buying momentum is slowing down.
2. Potential Pullback Targets:
If the price fails to break above the immediate resistance at 0.92 - 1.00 USDT, a short-term pullback is likely.
Target 1: 0.78 USDT (EMA 7) — a common area for short-term corrections.
Target 2: 0.62 USDT (EMA 25) — a deeper pullback level if selling pressure increases.
Next Move:
If you’re considering a short position, look for a confirmation candle with a lower high and lower low near the resistance level.
Stop Loss: Above 1.00 USDT to protect against further upside momentum.
Take Profit: Around 0.78 USDT or 0.62 USDT, depending on how strong the pullback is.
Summary:
Bearish bias in the short term due to overbought RSI and long upper wick.
Immediate downside targets: 0.78 USDT and 0.62 USDT.
Use tight risk management as the trend has been volatile.
Always remember to adjust your strategy based on real-time market conditions.
