1. General Trend
PIXEL has been trending higher in the short term, currently reaching the resistance zone around 0.2200 USDT. The Bollinger Bands are slightly open, indicating an increase in volatility. The current candle is located near the upper limit of these bands, which could anticipate a pullback or correction if the key resistance is not clearly overcome.
2. Key Support and Resistance Zones
Resistors:
0.2240 - 0.2300 USDT: Short-term critical zone.
0.2400 - 0.2448 USDT: Second resistance area at higher levels.
Supports:
0.2103 - 0.2113 USDT: First major support level.
0.1915 USDT: Key support to monitor.
0.1801 - 0.1740 USDT: Significant support zone at lower levels.
3. Technical Indicators
RSI (Relative Strength Index): With a current value of 69.56, it is in the overbought zone, indicating possible selling pressure if it breaks the level of 70.
Stochastic RSI: With values at 99.17 (K) and 100 (D), it shows an extremely overbought situation, anticipating a short-term correction.
MACD: The MACD line is crossing upwards, confirming the positive trend, while the green histogram indicates increasing buying strength.
Volume: An increase in volume is observed, supporting the bullish movement, although one should be alert if it decreases near the resistances.
4. Analysis of the Order Book
Purchase Orders:
0.213 USDT: 265,473.8 PIXELS.
0.209 USDT: 404,164.7 PIXELS.
Sales Orders:
0.218 USDT: 395,390.9 PIXELS.
0.225 USDT: 474,809.0 PIXELS.
0.240 USDT: 720,642.8 PIXELS.
These levels represent areas of interest where there could be significant changes in price direction.
5. Possible short-term operation (24 to 48 hours)
Potential Entry: If PIXEL pulls back, an entry at the support zone of 0.2103 - 0.2113 USDT could be ideal.
Price Targets:
First target: 0.2240 USDT.
Second target: 0.2400 USDT if the movement maintains strength.
Stop Loss: Place a stop loss at 0.2000 USDT, which represents a key support. A breakout would indicate a weakening of the current trend.
Take Profit: Take partial profit at 0.2240 USDT and hold the remaining position up to 0.2400 USDT if conditions permit.
Conclusion
The 4-hour chart analysis suggests a bullish continuation in the short term, although overbought conditions on several indicators could bring a mild correction. The resistances at 0.2240 and 0.2400 are critical levels to watch to assess the strength of the momentum. Trading cautiously is key, looking for entries at support and ensuring risk management by taking profits at resistance areas.
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Please note that this analysis is for informational purposes only and does not constitute financial advice. Trading in cryptocurrency markets involves risks, so it is important for each trader to conduct their own research and manage their risks appropriately.