$FLUX #Everyone #Followers #Binance
FLUX/USDT:
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**Technical Analysis for FLUX/USDT:**
- **Current Price**: 0.5818 USDT (+2.30%)
- **Moving Averages**:
- MA(7): 0.5804 USDT
- MA(25): 0.5877 USDT
- MA(99): 0.5786 USDT
- The price is slightly above the 7-day and 99-day moving averages, indicating a short-term upward trend, but below the 25-day MA, showing potential resistance.
- **RSI (6-period)**: 46.87 â Slightly below 50, indicating a neutral to weak momentum.
- **MACD**: MACD -0.0012, with a negative divergence, showing bearish sentiment. The histogram is close to zero, suggesting that momentum could shift either way.
- **Support and Resistance**:
- **Support**: 0.5642 USDT (recent low).
- **Resistance**: 0.6042 USDT (recent high).
- **Volume**: The volume has increased significantly but is tapering off, which could indicate weakening buying pressure.
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**Trading Strategy Plan:**
- **Entry (Short Position)**: Consider entering around the resistance level of **0.5900 USDT**, close to the 25-day MA for a better risk-reward ratio.
- **Exit (Take Profit)**: Set TP around **0.5650 USDT**, just above the recent support at 0.5642 to secure profit as the price could bounce from there.
- **Stop Loss**: Place a SL at **0.6050 USDT**, just above the recent high of 0.6042, to avoid potential further upside in case of a breakout.
- **Trade Duration**: 1-2 days, as the current price action suggests a short-term downward correction.
**Risk-Reward Ratio**: 1:1.6 â Decent opportunity for a short-term trade, with potential profit from a possible downward movement.
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