Technical Analysis: $THE /USDT
Current Overview:
Current Price: $2.4553
Market Momentum: Mixed with short-term bearish pressure and mid-term recovery signs.
Support and Resistance Levels:
Support: $2.20 (key level for rebound)
Resistance: $2.88 (recent high and breakout zone)
Indicators Analysis:
1. RSI (Relative Strength Index): Near 48, indicating a neutral zone.
2. Moving Averages:
50 EMA: Below the price, showing support near $2.30.
200 EMA: Above the price, indicating a longer-term bearish trend.
3. Volume: Increasing, signaling potential for a breakout.
Trade Momentum:
Short-Term Trend: Bullish correction after sharp decline.
Mid-Term Trend: Consolidation with potential breakout if $2.88 is tested.
Trade Signals:
Buy Zone:
Enter between $2.30 – $2.45.
Targets 🎯:
1. Target 1: $2.60 (short-term resistance zone)
2. Target 2: $2.78 (key breakout level)
3. Target 3: $3.00 (psychological and technical resistance)
Stop Loss:
Place at $2.18 (below strong support level).
Trade Strategy:
1. Aggressive Traders:
Enter now and scale out near $2.60 or higher targets.
2. Conservative Traders:
Wait for a pullback to $2.30 or breakout above $2.88 for confirmation.
Key Observations:
If $2.88 resistance breaks with strong volume, momentum could flip to bullish, targeting $3.20+.
Failure to hold above $2.20 could lead to retesting lower levels like $2.00.
Risk-Reward: Attractive for short-term gains; monitor volume for decisive moves.
Stay updated and adjust your trade based on price action!