Based on the chart I created, here’s my analysis and the potential next steps for the Celestia (TIA/USDT) pair:
1. Support Area:
I’ve identified a strong support zone around 4.370 - 4.653 USDT. This area looks promising for a BUY opportunity, as support levels often act as key reversal points where price tends to bounce back.
2. Potential Price Movement:
The Take Profit level is set at 4.950 USDT, offering a potential gain of approximately 8.45% from the lower bound of the support area. If the price respects this support zone, it’s likely to move toward this target.
3. Trading Strategy:
- Buy Zone: I plan to enter a position near or within the support range (4.370 - 4.653 USDT) while monitoring volume and looking for bullish candlestick confirmations.
- Stop Loss: To manage risks, I’ll set a stop loss slightly below the support level, around 4.300 USDT, to protect against potential breakdowns.
- Take Profit: My target is at 4.950 USDT, aligning with the nearest resistance level.
4. Additional Considerations:
- If the price breaks above 4.950 USDT, there could be additional upside potential, so I’ll keep an eye on market sentiment and trading volume for confirmation.
- However, if the price falls below the support zone, I’ll hold off on taking further action until a new setup or support level emerges.
This plan is based on the current technical structure of the chart. I’ll also stay updated on any news or developments related to Celestia (TIA), as they could significantly influence the price movement.
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👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸