SQT/USDT Technical Outlook : Potential for a Bullish Reversal**
#SQT #CryptoMarketMoves #BULLishWithBULL #Write2Earn! #BinanceSquareFamily
đ SQT/USDT Analysis
Currently, SQT is trading within a **descending channel** on the 1-hour chart, demonstrating a strong adherence to this pattern. The price has recently bounced off the **lower limit** of the channel, now sitting at a support level of **$0.00437**.
Several indicators suggest a potential upward movement. The **RSI** shows a downtrend that is close to breaking, indicating that buying pressure may soon increase. Additionally, the price appears to be stabilizing above the **100-period moving average**, further supporting a bullish outlook.
Trade Setup :
- Entry Price : $0.00448
- First Target : $0.00470
- Second Target : $0.00498
- Third Target : $0.00531
Conclusion & Advice :
Given the recent bounce from the channel's support and the bullish signals from the RSI and moving average, SQT may be poised for a rise.
Advice :
Consider entering at **$0.00448** while placing stop-loss orders just below the support at **$0.00437** to manage risk. Monitor the RSI closely for confirmation of the bullish trend as targets are pursued.
