ID/USDT Technical Analysis:๐ฐ๐ท๐ฏ
Key Data:
Current Price: $0.6111 (+3.33%)
24h High: $0.6192
24h Low: $0.5613
24h Volume (ID): 23.97M ID
24h Volume (USDT): 14.22M USDT
Moving Averages:๐ฅ
MA(7): $0.6097 (short-term)
MA(25): $0.5947 (mid-term)
MA(99): $0.5667 (long-term)
Support and Resistance:๐ธ
Resistance Levels:
$0.6192 (24h high) is the immediate resistance level.
A break above $0.6192 could open up the next resistance near $0.6225.
Support Levels:๐ค
$0.6097 (7-day MA) is the immediate support.
$0.5947 (25-day MA) and $0.5613 (24h low) can be considered further support levels.
Technical Analysis:
Price Position:๐ต
The current price of $0.6111 is above the 7-day MA of $0.6097, indicating a positive short-term trend.
The price is nearing the 24h high of $0.6192, with the potential for a breakout.
Volume:๐
23.97M ID traded in the last 24 hours with 14.22M USDT in volume, indicating moderate activity and a stable buying interest.
Trading Strategy:
Entry Levels:๐ฃ๏ธ
1. Conservative Entry:
A pullback to $0.6097 (7-day MA) could offer a safer entry point if the price consolidates.
2. Aggressive Entry:๐ฒ
If the price continues to rise and breaks above $0.6192, entering above this level could capture momentum for further gains.
Targets:๐
1. Target 1 (Short-term):
$0.6192 (24h high) is the immediate target. A breakout above this level could lead to more upside.
2. Target 2 (Medium-term):
If bullish momentum continues, the next resistance could be $0.6225.
Stop-Loss:๐
1. Stop-Loss 1 (Conservative):
A stop-loss can be placed around $0.5947 (25-day MA) for a safer margin.
2. Stop-Loss 2 (Aggressive):
A tighter stop-loss can be placed at $0.6097, just below the 7-day MA, to limit risks in case of a price reversal.
Example Scenario:
Entry: $0.6111 (current) or $0.6097 (7-day MA) on a pullback
Stop-Loss: $0.5947 (25-day MA) or $0.6097 (7-day MA)
Target 1: $0.6192 (24h high)
Target 2: $0.6225 (next resistance)
Conclusion:
ID/USDT is seeing a positive move with a price increase of +3.33%. The price is above the 7-day MA, showing short-term bullish momentum. $0.6192 (24h high) is a key resistance to break for further gains. Traders can consider entering near the current price or on a pullback to $0.6097, with stop-loss placed near $0.5947 and targets at $0.6192 and $0.6225.
