๐ Technical Analysis for VIC/USDT - Key Levels & Targets ๐ฏ | Binance
๐ VIC/USDT has shown a strong performance over the last 24 hours, up +16.76% with a price of $0.4207. This move comes after hitting a 24-hour high of $0.4268 and a low of $0.3484. Let's break down the technical analysis to identify key levels and potential targets for traders.
Current Market Conditions:
Current Price: $0.4207
24h High: $0.4268
24h Low: $0.3484
24h Trading Volume: 8.32M VIC, 3.20M USDT
Key Support and Resistance Levels:
1. Support Level (SAR Indicator): $0.3310
The SAR (Stop and Reverse) indicator suggests a potential support at $0.3310, providing a safety net for the price if it faces downward pressure. This level could be a good entry point for long positions if the market retests this zone.
2. First Target - $0.4426:
The first major resistance level to watch is $0.4426. This target is derived from recent price action and could act as a key breakout point. If the price manages to breach this level, we could see further upward momentum.
3. Second Target - $0.5231:
If VIC/USDT breaks through the $0.4426 resistance, the next logical target is $0.5231. This level could be a significant psychological resistance as traders may look to lock in profits.
Trading Strategy:
Long Positions: Look for support near $0.3484 - $0.3310 for potential entry. Consider buying on a price dip toward this range.
Short Positions: Watch for price rejection around $0.4426 or higher if you believe the upward momentum will reverse. A break below $0.3484 could trigger further downside, bringing us closer to the SAR level of $0.3310.
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