technical analysis and trade signals for the $SUPER /USDT pair based on the current data:
Current Price: 1.8983 USDT
24h High: 2.0995 USDT
24h Low: 1.7542 USDT
Trend Analysis:
Bearish Momentum: With the current price showing a downward movement of 8.15% from the high, there seems to be bearish momentum in the short term. The price is moving towards the lower end of the range, which indicates potential for further downside before stabilization.
Resistance Levels: The recent 24-hour high of 2.0995 USDT acts as a resistance point.
Support Levels: The 24-hour low of 1.7542 USDT acts as support. Any price action below this level could signal further downward momentum.
Trade Signals:
Bearish Scenario (Short Position):
Entry Point: 1.89 ā 1.92 USDT (if there is a short-term pullback or price retests resistance)
Target 1: 1.80 USDT (near support)
Target 2: 1.75 USDT (strong support level from 24h low)
Target 3: 1.70 USDT (further downside potential if momentum continues)
Bullish Scenario (Long Position):
Entry Point: 1.75 USDT (if the price holds above this level and shows signs of reversal or a bounce)
Target 1: 1.90 USDT (retest recent resistance)
Target 2: 2.00 USDT (psychological resistance level)
Target 3: 2.10 USDT (previous high of the day, potential for breakout)
Trade Momentum:
Short-Term Momentum: Bearish in the short term as the price is under pressure, showing a drop of around 8% in 24 hours. Traders should be cautious of potential continuation of this trend unless a reversal signal appears.
Medium-Term Momentum: Currently neutral to bearish, but any signs of stabilization above 1.75 USDT could indicate a potential reversal.
Long-Term Momentum: A prolonged downtrend may continue if the price fails to recover above 2.00 USDT.
Risk Management:
Stop Loss (for short position): Place a stop loss above 1.94ā1.98 USDT to avoid a breakout above resistance.
Stop Loss (for long position): Place a stop loss below 1.70 USDT if the price fails to hold above support.