The $UFT /USDT pair is exhibiting strong bullish momentum, rallying significantly with a 24-hour increase of +15.04% to its current price of $0.3502. A breakout above key resistance levels, supported by robust trading volume, signals strong buying interest and potential for further gains.
Key Levels:
Immediate Target: $0.3750
Next Target: $0.4000
Stop Loss: Set a stop-loss below $0.3300 to limit downside risk.
Technical Analysis:
The recent breakout from a prolonged consolidation phase indicates a shift in sentiment, favoring bulls. The price is moving above critical levels, supported by increasing momentum and volume. Short-term traders can capitalize on this breakout, while long-term holders may target higher levels as the trend matures.
Action Plan:
1. Profit Booking:
Consider partial profit booking near $0.3750 to lock in gains.
2. Risk Management:
Trail your stop-loss to secure profits as the price continues upward.
Maintain a stop-loss below $0.3300 for safety.
3. Entry Opportunity:
Current levels still offer a reasonable entry, but watch for minor pullbacks to optimize your position.
Final Note:
While the bullish sentiment looks promising, always ensure proper risk management and monitor key levels closely. Volatility can spike, so stay prepared for quick adjustments if market conditions change.