Trading Signal for $BEL /USDT!(For Spot only and only from long term)

Current Price: $0.6089

Trend Analysis:

The chart shows a clear downtrend within a descending channel, with recent price consolidation near the $0.60 level, indicating a potential support zone.

Key Levels to Watch:

• Support: $0.5660 (recent low)

• Resistance: $0.6500 (upper channel boundary) and $0.7000

Signal Details:

• Entry Zone: Accumulate near $0.60-$0.58 for long-term positions.

• Targets:

• Short-Term Target: $0.6500

• Mid-Term Target: $0.7500

• Long-Term Target: $0.8000+

• Stop-Loss: Close below $0.5500 to minimize risk.

Strategy:

BEL/USDT is consolidating after a strong sell-off, suggesting a potential reversal if it breaks above the descending channel. Monitor for increased volume to confirm a breakout.

Risk Management:

• Allocate no more than 5% of your portfolio to this trade.

• Secure partial profits near $0.6500 and trail stop-loss for further targets.

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