Technical Analysis ‼️‼️ $THE/USDT
Currency Performance:
Technical Indicators:
1. EMA (Exponential Moving Average):
• EMA 7 days: $2.99 - indicates a continued uptrend.
• EMA 25 days: $2.81 - confirms the positive momentum in the medium term.
2. RSI (Relative Strength Index):
• RSI (6): 76.20 - indicates an overbought area.
• RSI (12): 69.69 - close to the overbought area, which may lead to an imminent correction.
3. MACD:
• DIF: 0.13 - shows the continuation of the positive momentum.
• Indicates a potential opportunity for a price increase if trading continues above support levels.
4. Stochastic RSI:
• 90.67 - in the overbought area, which calls for caution.
Trading Recommendations:
• Buy level: If a correction occurs at the range of $2.80 - $2.90.
• Sell level: When the price approaches $3.20 - $3.30 to secure profits.
• Stop loss: It is preferable to set it at $2.60 to avoid large losses.
Overview:
The currency $THE shows strong momentum due to high volume and uptrend, but it may face a correction in the short term due to overbought levels. Traders are advised to closely monitor technical indicators to ensure informed decisions.
Invest wisely with good risk management
