🚀 $FARM

/USDT Technical Analysis 🚀

Current Price: $51.58 (+3.91%)

Market Sentiment: Bullish 📈

Key Insights

1️⃣ Resistance Levels:

First Target 🎯: $56

If the bullish momentum continues, the price is likely to test the $56 level, which aligns with a historical resistance zone. Breakout confirmation above this level could signal stronger upward momentum.

Second Target 🎯: $64

A move beyond $56 opens the door to $64, representing a psychological resistance level and prior price rejection zone. Watch for volume spikes to validate the trend.

Third Target 🎯: $72

If the broader DeFi market remains strong, $72 could come into play as a high-probability target. It marks the top of the recent range and a significant resistance level historically.

2️⃣ Support Levels:

Immediate support is near $48. A breakdown below this level could lead to a retest of $44, the next key support zone.

3️⃣ Volume & Momentum:

24-hour volume shows strong interest, with $920,707.33 USDT traded. This aligns with the upward price trend and indicates buyer dominance.

Trading Strategy

Bullish Traders: Look for an entry on a breakout above $52.17 with targets at $56, $64, and $72. Use $48 as a stop-loss level to manage risk.

Risk-Averse Traders: Wait for confirmation of a retest at $48 before entering.

Disclaimer:

This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before trading.

Let’s ride the wave! 🌊