$CHR
/USDT Technical Analysis and Trade Strategy๐๐ฏ
Price Overview:
Current Price: $0.3577
24H Change: +32.38%
Resistance: $0.3780 (24H High)
Support Levels: $0.3450 (Bollinger Upper Band), $0.2885 (Bollinger Middle Band)
Technical Indicators:
1. Bollinger Bands (20,2):
Current price is above the Upper Band (0.3453), indicating strong bullish momentum but overbought conditions.
2. SAR (0.02, 0.2):
The SAR value at $0.2782 supports an ongoing uptrend.
3. Volume:
High trading volume confirms strong participation, adding to the momentum.
Trade Setup
Entry Point:
Aggressive Entry: Enter near $0.3570โ$0.3600, following the trend.
Conservative Entry: Wait for a pullback near $0.3450 (Bollinger Upper Band) for better risk management.
Stop-Loss (SL):
Place the stop-loss just below $0.2880 to safeguard against unexpected reversals.
Targets ๐ฏ
1. Target 1 (Short-Term): $0.3780 (24H High)
Test of the recent resistance level.
2. Target 2 (Mid-Term): $0.4000
Psychological resistance and a likely profit-taking zone for many traders.
3. Target 3 (Extended): $0.4400
Based on the potential continuation of the breakout and volume support.
Risk-Reward Ratio (R/R):
Aggressive Setup:
Entry: $0.3570
Stop Loss: $0.2880
Target 1: $0.3780 (R/R ~ 3.0)
Target 2: $0.4000 (R/R ~ 6.1)
Target 3: $0.4400 (R/R ~ 12.0)
Caution: Monitor closely for pullbacks or sudden reversals as the price is overextended above the Bollinger Upper Band. Adjust targets dynamically based on market momentum and volume trends.