$ALPHA
/USDT Technical Analysis and Trade Strategy๐๐ฏ
Current Price: $0.1192
24h High: $0.1232
24h Low: $0.1101
Technical Indicators:
Bollinger Bands (20, 2):
Upper Band: $0.1199
Middle Band: $0.1170
Lower Band: $0.1141
Parabolic SAR (0.02, 0.2):
SAR: $0.1163
Analysis:
1. Trend Analysis:
ALPHA/USDT is in an uptrend, indicated by the +6.91% price increase in the last 24 hours. The price is currently near the upper Bollinger Band, suggesting potential resistance around $0.1199.
2. Support Levels:
The Parabolic SAR at $0.1163 and the lower Bollinger Band at $0.1141 provide key support zones if the price retraces.
3. Resistance Levels:
The upper Bollinger Band at $0.1199 is a key resistance level. If the price breaks above this level, we may see further bullish movement.
Trade Strategy
Long Position Entry:
Entry Point: If ALPHA/USDT retraces to the SAR support at $0.1163 or the lower Bollinger Band at $0.1141, this could be an entry point for a long trade.
Stop Loss: Set a stop loss below $0.1140 (below the lower Bollinger Band) to limit risk.
Target Levels:
1. Target 1 (T1): $0.1199 (Upper Bollinger Band) โ Watch for resistance around this level.
2. Target 2 (T2): $0.1220 โ This level could be a potential breakout point if momentum continues.
3. Target 3 (T3): $0.1232 (24h High) โ A potential profit-taking zone for bullish continuation.
Short Position Entry:
Entry Point: If the price breaks below the SAR level at $0.1163, consider a short position targeting the lower Bollinger Band at $0.1141 or the 24h low at $0.1101.
Stop Loss: Set a stop loss above $0.1199 to protect against unexpected bullish moves.
Target Levels:
1. Target 1 (T1): $0.1141 (Lower Bollinger Band) โ First support level to consider.
2. Target 2 (T2): $0.1101 (24h Low) โ Further downside potential if the market turns bearish.
3. Target 3 (T3): $0.1080 โ Potential extension of the downtrend if market conditions worsen.