$DATA Recent Technical Analysis and Trading setup đĽđĽđĽđ¨đ¨đ¨
Support and Resistance Levels
âď¸Support:
$0.04256: Strong support based on recent lows.
$0.04435: Intermediate support level visible on the chart.
âď¸Resistance:
$0.04820: Key resistance level where price faced rejection.
$0.04849: Potential next resistance level beyond the current high.
Entry Pointsđ¨
⤾ď¸â¤ľď¸Short Position:
Entry: Around $0.04820 (current resistance).
Target: $0.04435 (first support level).
Stop Loss: $0.04850 (just above resistance to limit risk).
⤴ď¸â¤´ď¸Long Position:
Entry: Around $0.04435 (support level confirmation).
Target: $0.04820 (first resistance level).
Stop Loss: $0.04240 (below major support).
Market Insightsđ
Trend: The market appears to be in an uptrend on the shorter time frame (15-min chart). However, the rejection at $0.04820 indicates potential consolidation or pullback.
Volume: High trading volume indicates strong activity, which supports potential breakouts or retests.
đ§ Indicators:
âď¸MACD: Likely signaling bullish momentum but watch for divergence.
âď¸RSI: Monitor for overbought (>70) or oversold (<30) signals to confirm reversal or continuation.
âď¸Bollinger Bands: Could indicate whether the price is nearing overextension (upper band) or support (lower band).
The short-term bias depends on the breakout above $0.04820 or a pullback to support at $0.04435.
Use cautious position sizing to mitigate risk given the current volatility.
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