Analysis of the current situation
Current price: 1.1657, up 1.91% in 24 hours.
Nearest resistance: 1.188 (identified from recent high levels).
Nearest support: 1.155 (the price area that has previously bounced back multiple times).
Trend prediction
Short-term:
RSI above 70, indicating the market shows signs of being overbought and may correct.
MACD is increasing, showing that upward momentum is still present.
Long-term:
If the price surpasses 1.188 with high trading volume, the long-term upward trend will be reinforced.
If not, the price may return to the support area of 1.155.
Trading strategy
1. Buy point:
Wait for the price to break above 1.188 with large trading volume.
Or wait for a correction to 1.155 to buy at the support area.
2. Sell point:
If the price breaks 1.188, sell in parts at levels 1.209 and 1.245.
If the price fails to break 1.188 and RSI continues to decline, consider exiting the position at 1.160 to reduce risk.
Recommendation
Always set a Stop Loss below 1.155 to protect capital.
Monitor trading volume when the price approaches 1.188 to determine whether a real breakout is occurring.