š Technical Analysis: $SAND /USDT
Current Price: $0.6102 (+2.97%)
Timeframe: 30-min chart (Binance)
šÆ Key Targets:
1. Target 1 (Immediate Resistance): $0.6200
A breakout above this level could initiate a short-term bullish rally, making it a crucial resistance zone.
2. Target 2 (Mid-Term Resistance): $0.6350
Sustained momentum could lead to testing this mid-term level, which is ideal for partial profit-taking.
3. Target 3 (Major Resistance): $0.6550
A move above this psychological level would confirm a strong bullish breakout and attract further buying interest.
š» Support Zones:
Immediate Support: $0.6050
Maintaining this level is essential for sustaining the current bullish trend.
Critical Support: $0.5900
A breach below this level could trigger further downside movement and invalidate the bullish scenario.
š Strategy:
Entry Zone: Consider entries near $0.6050ā$0.6100 or after a confirmed breakout above $0.6200.
Profit Zones: Book partial profits at $0.6200, $0.6350, and $0.6550.
Stop Loss: Place below $0.5900 to manage risks effectively.
š Insights:
Trend: Consolidating near support with potential for a bullish breakout.
Volume Analysis: Increasing volume could confirm the upward breakout once price breaks above $0.6200.