$LPT
/USDT Technical Analysis and a Trade Strategy 🎯
1. Current Price: $18.86 (+8.77% in the last 24h)
2. Resistance Levels:
First Resistance (R1): $18.967 (24h high)
Second Resistance (R2): $19.50 (psychological level & previous highs)
Third Resistance (R3): $20.00 (round number, psychological barrier)
3. Support Levels:
First Support (S1): $18.10 (SAR level)
Second Support (S2): $17.718 (Lower Bollinger Band)
Third Support (S3): $16.42 (24h low)
4. Indicators:
Bollinger Bands: Price is near the upper band, signaling potential overbought conditions or continued bullish momentum.
Parabolic SAR: The SAR is at $18.101, confirming an ongoing uptrend.
Trade Strategy
Trend: The overall trend is bullish, as the price is above the SAR and near the upper Bollinger Band. However, some consolidation or minor pullbacks could occur before the next upward move.
Entry Point: Enter on a pullback to around $18.10–$18.50, where the SAR and Bollinger Bands converge. A solid confirmation of upward movement can come if price bounces off these levels with an increase in volume.
Target Levels 🎯
1. Target 1: $18.97 (R1)
The price is currently near this level. If the price breaks above $18.967, it could reach this resistance and experience a slight pullback or consolidation.
2. Target 2: $19.50 (R2)
If the momentum continues, the next level of resistance is around $19.50. This would likely happen after a break above $18.967.
3. Target 3: $20.00 (R3)
A more aggressive bullish target is $20.00, which is a key psychological resistance level. A breakout above $19.50 could lead to this level.
Stop Loss:
$17.70 (S2): Set the stop just below the lower Bollinger Band to limit the downside risk in case the price moves against the position.
Trade Plan Summary:
Long Position: Enter around $18.10–$18.50 with a target of $18.97, $19.50, and $20.00.
Stop Loss: Set below $17.70 to limit losses in case of a downturn.
