technical analysis and trade signals for the $THE /USDT pair:
Technical Analysis:
Current Price: 2.6341 THE
24h High: 2.8780 THE
24h Low: 2.1905 THE
Price Change: +4.07%
Trend: Bullish (based on the recent 4-hour positive momentum)
Support Level: 2.19 THE (recent 24h low)
Resistance Level: 2.88 THE (24h high)
Trade Signals & Strategy:
Bullish Scenario (Long Entry):
Entry: 2.63 THE
Target 1: 2.75 THE (First resistance level, expect some retracement)
Target 2: 2.85 THE (Testing 24h high, potential breakout)
Target 3: 2.95 THE (Extension beyond resistance if bullish momentum continues)
Stop-Loss: 2.18 THE (just below 24h low, to manage risk)
Bearish Scenario (Short Entry):
Entry: 2.60 THE (Breakdown below support)
Target 1: 2.45 THE (First potential support zone)
Target 2: 2.30 THE (Testing lower support zone)
Target 3: 2.18 THE (24h low, strong support area)
Stop-Loss: 2.88 THE (above 24h high, to limit risk)
Momentum Analysis:
Current Momentum: The price is showing a bullish trend with a 4.07% increase in the last 24 hours and a positive momentum in the last 4 hours (+3.36%).
Trend Confirmation: The price is trading above 2.60 THE, with room to test higher targets (2.75ā2.85 THE).
Key Indicator: Look for further upward movement if the price holds above 2.60 THE; a break below 2.60 THE would indicate weakness.
Trade Advice:
Buy: If the price holds above 2.63 THE with strong bullish momentum, target the first resistance at 2.75 THE.
Sell: If the price drops below 2.60 THE and breaks support, consider shorting towards the lower targets (2.45ā2.18 THE).
Make sure to monitor the market closely, as DeFi-related assets can be volatile, and adjust your strategy accordingly!