$SNT /USDT is currently trading at $0.05083, marking a strong 6.34% gain over the past 24 hours and reaching a high of $0.05099. This uptrend is driven by increasing volume and momentum, but the RSI at 93.91 places it in an overbought zone, suggesting a potential pullback or consolidation ahead.
Bullish Scenario:
If SNT/USDT breaks above the immediate resistance at $0.05100, the next targets are:
TP1: $0.05150
TP2: $0.05200
TP3: $0.05250
Entry Point: Consider entering near $0.05050 on minor pullbacks.
Stop-Loss: $0.04950 to protect against downside risk.
Bearish Scenario:
If the price fails to hold above the support at $0.05000, a retracement may occur, targeting:
TP1: $0.04900
TP2: $0.04800
TP3: $0.04700
Entry Point: Short positions can be considered below $0.05000 if bearish momentum strengthens.
Stop-Loss: $0.05100 to limit losses in case of a reversal.
Market Insights:
The strong bullish momentum is supported by robust trading volume, but overbought conditions make the price susceptible to pullbacks or consolidation. Watch for a breakout above $0.05100 for further upside, or failure to hold support at $0.05000 for potential bearish moves. Stay vigilant and align your strategy with these critical levels.