Technical Analysis of $THE /USDT
Current Price: 1.3719 THE
24h High: 1.3722 THE
24h Low: 1.2104 THE
Price Change: +10.12%
Key Indicators:
Support: 1.3125 (SAR Level) - Could act as a potential support level if price declines.
Resistance: 1.3778 - Current resistance level, above which price could rally further.
Trade Signal: Bullish
The price is currently showing upward momentum, having risen by over 10% in the last 24 hours. The trend is likely to continue if it holds above support levels and breaks the immediate resistance.
Target Levels:
1. Target 1: 1.3800 - Break of immediate resistance could lead to further upside.
2. Target 2: 1.4000 - Next resistance level. A successful breakout could lead the price here.
3. Target 3: 1.4200 - Extended target if the bullish momentum continues.
Momentum:
Bullish Momentum: The market shows strong bullish momentum after breaking key levels. Look for continuation if the price holds above 1.3700.
RSI and MACD (if available) could further confirm if the momentum is sustainable.
Trade Advice:
Entry: Consider entering around the current price (1.3719) or on a small pullback near support levels (1.3125 or 1.3368).
Stop Loss: Below 1.3125 (SAR level) to limit losses in case of a trend reversal.
This setup indicates a potential for further gains if the upward momentum holds. However, it's essential to monitor market conditions and adjust the strategy accordingly.
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