Analysis and Prediction for $DATA
Current Price Action:
DATA is trading at $0.04655, up 3.77% in the last 24 hours. The price shows a rebound from the previous support zone near $0.04350, suggesting short-term bullish momentum.
Analysis:
Support Zone: The $0.04350 - $0.04500 region has provided a strong base, as seen by multiple bounces in the past.
Resistance Zone: The immediate resistance lies at $0.05000, with the next significant hurdle at $0.05475 (24h high).
Trend: The recent higher low formation indicates the potential for a recovery trend if $0.04650 holds.
Prediction:
If the bullish momentum sustains:
Short-Term Target: $0.05000
Medium-Term Target: $0.05500
If price retraces:
Support to Watch: $0.04500
Trading Strategy:
1. Long positions can be initiated near $0.04650 with a stop-loss below $0.04500.
2. Take partial profits near $0.05000 and hold for a breakout towards $0.05500.
3. Monitor for high sell volume at resistance levels to adjust strategies.