$STRAX

/USDT: Evaluating Potential Bounce from Trade Support๐Ÿ“ˆ๐Ÿ“Š

Current Price: $0.05978

24h Change: -4.76%

24h Range: $0.05952 - $0.06374

24h Volume: 18.55M STRAX / 1.15M USDT

Technical Snapshot ๐Ÿ“Š

1. Trend:

Bearish with a -4.76% drop in the last 24 hours, signaling selling pressure.

Price is testing $0.05978, with $0.05952 as immediate support.

2. Key Support:

$0.05952 (recent low)

$0.05800 (stronger support level)

3. Key Resistance:

$0.06050 (immediate resistance)

$0.06300 (24h high)

4. Indicators:

RSI: 45 (Neutral, close to oversold, signaling potential for a reversal)

MACD: Bearish, indicating continued selling momentum.

Volume: Low, indicating consolidation or awaiting a breakout.

Trade Strategy ๐ŸŽฏ

Entry Zone: $0.05950 - $0.05980 (Look for stabilization near support)

Stop-Loss: $0.05800 (Risk management)

Target Levels ๐Ÿš€

1. ๐ŸŽฏ Target 1: $0.06050 โ€“ Immediate resistance zone

2. ๐ŸŽฏ Target 2: $0.06200 โ€“ Next resistance level

3. ๐ŸŽฏ Target 3: $0.06300 โ€“ Extended target

Trade Tip:

Watch for any reversal patterns such as bullish engulfing or hammer candles near support. If the price shows signs of holding above $0.05950, a short-term bounce could target the resistance zones.

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