technical analysis and trade signal for the $TURBO /USDT

Technical Analysis:

1. Current Price: 0.009096 USDT (down by 3.88% in the last 24 hours).

2. Support Level:

The 24h low at 0.009067 acts as a strong support. This level should hold if the price continues to face downward pressure.

3. Resistance Level:

The 24h high at 0.009899 serves as a significant resistance level. A break above this price could signal a potential upward momentum.

4. Trend Analysis:

The price is currently showing a downward momentum with a 1D drop of -5.51%. The momentum suggests a continuation of this downward movement unless the price breaks key resistance levels.

The current price has retraced from the highs, and the RSI (Relative Strength Index) might indicate oversold conditions, which could suggest a possible reversal in the near future.

Trade Signal:

Entry: Consider entering a short position near the current price of 0.009096 USDT or upon a slight rally to 0.0092.

Target Levels (Three Targets) ๐ŸŽฏ:

1. Target 1: 0.0088 (Next immediate support level, a potential short-term target for profit-taking).

2. Target 2: 0.0084 (Next level of support that could act as a further price target if the market remains bearish).

3. Target 3: 0.0080 (Strong psychological support level, marking a deeper price retracement if the downward trend continues).

Stop Loss:

Set a stop-loss at 0.0094 to limit risks in case the price breaks above resistance levels and starts to rally.

Trade Momentum:

Bearish Momentum: The recent price action and the drop of 3.88% indicate bearish momentum. Short positions may be considered with careful monitoring.

Caution for Reversal: Watch out for signs of reversal, as the price is approaching a key support level. A bounce from this point could lead to a potential bullish trend if the support holds.

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