š Technical Analysis: $MOVE /USDT
Current Price: $1.0776 (+28.50%)
Timeframe: 30-min chart (Binance)
šÆ Key Targets:
1. Target 1 (Immediate Resistance): $1.10
A breakout above this level could confirm continued bullish momentum, making it an ideal target for short-term profits.
2. Target 2 (Mid-Term Resistance): $1.15
Sustained momentum could push the price to test this mid-term level, a key profit-taking zone for mid-term traders.
3. Target 3 (Major Resistance): $1.20
A strong move to this psychological level signals a long-term bullish trend, attracting more buyers.
š» Support Zones:
Immediate Support: $1.05
Maintaining this level is crucial to prevent a pullback and preserve the bullish structure.
Critical Support: $1.00
A drop below this level may invalidate the bullish setup and lead to a consolidation phase.
š Strategy:
Entry Zone: Look for entries near $1.05ā$1.07 or after confirmation of momentum above $1.10.
Profit Zones: Secure profits at $1.10, $1.15, and $1.20.
Stop Loss: Place below $1.00 to manage downside risk effectively.
š Insights:
Trend: Strong uptrend with a breakout attempt, supported by significant price gains.
Volume Analysis: High trading volume suggests strong buying interest, confirming the breakout potential.