technical analysis and trade signal for $NTRN /USDT with three target levels and trade momentum:
Current Price: $0.5743
24h High: $0.5776
24h Low: $0.5033
Support Levels:
Strong Support: $0.5033 (24h Low)
Minor Support: $0.5743 (Current Price Level)
Resistance Levels:
Resistance 1: $0.5776 (24h High)
Resistance 2: $0.5900
Resistance 3: $0.6000
Trade Signal and Targets:
Trade Setup: Bullish Momentum
Entry Point:
Consider entering around $0.5743 or on a retracement towards the $0.5700 range.
Target Levels:
1. First Target (T1): $0.5900
This level marks a moderate resistance point. If the price breaks above this, the next targets are more likely to be hit.
2. Second Target (T2): $0.6000
A key resistance zone, where price might experience consolidation or rejection.
3. Third Target (T3): $0.6200
If bullish momentum continues, expect this level to act as a stronger resistance.
Stop Loss:
Set a stop loss at $0.5050, just below the strong support of $0.5033, to minimize risks in case of a downturn.
Momentum Analysis:
Price Action:
The price has been steadily moving within a narrow range, showing slight bullish momentum with a +0.31% change in the last 24 hours. However, momentum is not explosive, so a careful, patient approach is recommended.
Market Sentiment:
Given the current stability around the $0.5743 level and a slight uptick in trading volume, market sentiment is moderately bullish. The price might attempt to break resistance levels as buying pressure builds.
Volume Analysis:
With a 24h volume of 27.24M for NTRN, the buying interest is stable, though not aggressive. A significant surge in volume above $0.5776 could signal a breakout to the next target.
Trade Momentum:
Bullish Bias: The current trend is leaning slightly bullish, and a breakout above the recent high of $0.5776 could lead to further price movement towards higher targets.
Caution: Keep an eye on market corrections. A drop below $0.5033 could invalidate bullish expectations and shift the trend to bearish.