$STRAX USDT 4-Hour Chart Analysis:
Overview:
STRAX/USDT has shown a strong upward move from 0.0391 USDT to 0.0454 USDT, breaking above key resistance at 0.0431 USDT.
Key Levels:
- Support:
- 0.0431 USDT (recent breakout level)
- 0.0391 USDT (previous low)
- 0.0343 USDT (lower support)
- Resistance:
- 0.0480 USDT (immediate resistance)
- 0.0526 USDT (higher resistance)
- 0.0552 USDT (major resistance)
Trend and Patterns:
The price is forming a higher low, indicating bullish momentum. The RSI has also crossed into bullish territory, signaling strength in the current upward move.
Bullish Case:
- Breakout above 0.0480 USDT could open the way toward 0.0526 USDT and higher.
- The bullish RSI crossover indicates potential further gains.
Bearish Case:
- Failure to sustain above 0.0431 USDT could result in a pullback toward 0.0391 USDT.
Strategy:
- Entry:
- Buy on a confirmed break above 0.0480 USDT.
- Aggressive buy near 0.0450 USDT with a stop below 0.0431 USDT.
- Take Profit:
- TP1: 0.0480 USDT
- TP2: 0.0526 USDT
- TP3: 0.0552 USDT
- Stop Loss:
- Below 0.0431 USDT.
Conclusion:
STRAX/USDT is showing strong bullish momentum. A breakout above 0.0480 USDT could lead to a significant upward move, while a failure might signal consolidation.
