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$VANA /USDT pair:
🤔🤔Observations:
1. EMA Levels: Price is currently below the EMA(25) and EMA(99), suggesting bearish momentum. However, a recovery is underway around the $17.69 support.
2. Support and Resistance:
Support: $17.69 is acting as a critical level to watch.
Resistance: Immediate resistance is near the $18.80 level (EMA confluence).
3. Volume: Decreasing volume indicates hesitation in both buying and selling pressure.
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Next Moves for Traders:
Bullish Scenario:
Entry Point: Above $18.10 (with confirmation of momentum).
Targets:
Target 1: $18.80
Target 2: $19.50
Stop Loss: $17.50 to minimize risk.
Bearish Scenario:
Entry Point: If price falls below $17.60.
🎯Targets:
Target 1: $17.00
Target 2: $16.50
Stop Loss: $18.10 to cap losses.
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Advice:
Short-Term Traders: Wait for a breakout confirmation above $18.10 or below $17.60 before entering a position.
Long-Term Investors: Monitor the $17.69 support zone; a breakdown could signal further bearish momentum.
Let me know if you'd like a detailed chart or additional insights!
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