KEY 🗝️ OBSERVATIONS:
1. Current Price: 0.1099, with a 3.48% increase.
2. Moving Averages (MAs):
MA(5): 0.1096
MA(10): 0.1098
MA(60): 0.1096
The price is slightly above these moving averages, indicating bullish momentum.
3. Volume: A spike in volume is observed, which can indicate strong buying interest.
4. MACD: The MACD line is marginally above the signal line, signaling a weak bullish crossover.
TRADE STRATEGY
1. Long Position:
Entry Point: Enter near 0.1095–0.1099 if the price holds above MA(5) or MA(10) with increasing volume.
Stop Loss: Place at 0.1050 (recent low) to minimize risk.
Take Profit:
TP1: 0.1112 (24h high)
TP2: 0.1135 (next resistance level from previous price action)
CONTINGENCY PLAN:
If the price breaks below 0.109, consider reducing exposure or waiting for the next support level near 0.105.
2. Short Position (if signals reverse):
Entry Point: Short if the price breaks below 0.109 and MA(10) with increased selling pressure.
Stop Loss: Set at 0.1115 (above the 24h high).
Take Profit:
TP1: 0.108 (support zone)
TP2: 0.105 (next support level)
Contingency Plan:
If the price reclaims 0.109 and holds, exit the short trade.
INDICATORS TO MONITOR:
1. Volume: Sustained high volume during a breakout confirms strength.
2. MACD: Look for the lines widening upward (bullish) or downward (bearish).
3. Bollinger Bands (if available): Check for breakout beyond bands to confirm momentum.
Would you like additional clarification or deeper analysis for any aspect?
(IF YOU LIKE THE ARTICLE LEAVE YOUR COMMENT & PLEASE FOLLOW ME FOR MORE NEW ARTICLES 😇 🔥 🔥 🔥)
Thanks 👍