Current Price: $1.2014 (+42.87%) 24H High: $1.2223 EMA Support Zones:
EMA (9): $1.0990
EMA (21): $1.0280
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Trade Setup:
The price is currently in a strong uptrend, trading above key EMA levels. With the 24h high at $1.2223, further bullish momentum could push the price toward higher targets.
Take Profit (TP) Levels:
1. TP1 - $1.25
Close to the 24h high; this is a key short-term resistance. Breakout above this zone confirms continued bullish sentiment.
2. TP2 - $1.50
A psychological resistance level where traders may look to lock profits.
3. TP3 - $1.80
A longer-term target if momentum and volume remain strong. This aligns with significant resistance from prior analysis.
Stop Loss (SL):
$1.00: Placed below the nearest support and EMA (9), minimizing downside risk.
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Key Indicators to Watch:
Volume: Sustained high volume is critical to break resistance at $1.25.
MACD: Currently bullish, suggesting momentum is still in favor of buyers.
RSI: Monitor for overbought levels; corrections could follow if RSI breaches 70+.
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Strategy:
Consider scaling out profits at each TP level to secure gains while leaving room for further upside.
Adjust SL to breakeven after breaking $1.25 for a risk-free trade.
This setup is ideal for momentum traders looking to ride the breakout but stay cautious of sudden pullbacks near major resistance zones.
note : educational purposes only do your own analysis and study $XRP
$SOL
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