AXL/USDT Technical Analysis:๐ฐ๐ท๐ฅ
Key Data:
Current Price: $1.0714 (+9.64%)
24h High: $1.0731
24h Low: $0.9565
24h Volume (AXL): 11.34M AXL
24h Volume (USDT): 11.42M USDT
Moving Averages:๐
MA(7): $1.0451 (short-term)
MA(25): $1.0071 (mid-term)
MA(99): $0.9512 (long-term)
Support and Resistance:๐ฃ๏ธ
Resistance Levels:
$1.0731 (24h high)
$1.0792 (next potential resistance)
Support Levels:
$1.0071 (25-day MA)
$0.9565 (24h low)
Technical Analysis:
Price Position:๐
The price of $1.0714 is above the 7-day MA of $1.0451, indicating a bullish short-term trend.
The price is also above the 99-day MA of $0.9512, signaling an overall upward movement.
Volume:๐ค
A volume of 11.34M AXL and 11.42M USDT in the last 24 hours shows a moderate level of trading activity, suggesting steady market interest.
Trading Strategy:
Entry Levels:๐ฏ
1. Conservative Entry:
A good entry could be around $1.0451 (7-day MA) if the price pulls back.
2. Aggressive Entry:
Entering at the current price of $1.0714 could still be viable for those looking for continuation of the bullish trend.
Targets:๐ธ
1. Target 1 (Short-term):
The immediate resistance target is $1.0731 (24h high), with a possibility of breaking to $1.0792 (next resistance).
2. Target 2 (Medium-term):
If the price continues its upward movement, it could target higher resistance levels beyond $1.0792.
Stop-Loss:๐
1. Stop-Loss 1 (Conservative):
A stop-loss can be placed near $1.0071 (25-day MA) for those looking to minimize risk.
2. Stop-Loss 2 (Aggressive):
A tighter stop-loss could be placed near $0.9565 (24h low) for more aggressive traders.
Example Scenario:
Entry: $1.0451 (conservative) or $1.0714 (aggressive)
Stop-Loss: $1.0071 (conservative) or $0.9565 (aggressive)
Target 1: $1.0731 (24h high)
Target 2: $1.0792 (next resistance)
Conclusion:
AXL/USDT has seen a 9.64% increase in the last 24 hours, indicating strong bullish momentum. The price is above key moving averages, suggesting a continued uptrend. Traders can consider entering at $1.0451 (conservative) or $1.0714 (aggressive), with potential targets at $1.0731 and $1.0792. A stop-loss around $1.0071 or $0.9565 will help manage risk.
