SQT/USDT Trade: Key Levels Hit, What's Next ?
#CryptoMarketMoves #RSI #BinanceSquareFamily #Write2Earn! #Market_Update
In the recent analysis of **SQT/USDT**, the price has been moving within a **descending channel** on the **1-hour timeframe**, sticking closely to the trend. A **bounce from the lower limit** of the channel has occurred, leading to a touch on the support level at **$0.00350**.
The **RSI indicator** showed a downtrend that appears ready to break, indicating a potential for upward movement. Additionally, the price trend shows a possibility of stabilizing above the **100-period moving average**, supporting further bullish sentiment.
The targets for the trade were :
1. First target : $0.00383 â Reached.
2. Second target : $0.00400 â Reached.
3. Third target : $0.00424 â Reached.
Conclusion & Advice :
With all targets successfully reached, traders should now evaluate the strength of the next move. Keep an eye on whether the price remains above the **100-period moving average** and monitor the **RSI** for confirmation of continued bullish momentum. As the targets have been hit, it may be wise to adjust stop losses or consider taking profits at this point. Always use proper **risk management** and watch for any signs of reversal.