$XNO
/USDT Technical Analysis and Trade Strategy š šÆ
Indicators:
1. Support and Resistance Levels:
Key Support: $2.00
Immediate Resistance: $2.30
Extended Resistance: $2.50
2. Moving Averages (MA):
20 EMA: Indicates bearish momentum as the price is below this line.
50 EMA: A cross upward could signal a trend reversal.
3. MACD:
Bearish divergence with the signal line above the MACD line suggests selling pressure.
4. Bollinger Bands:
Price is near the lower band, indicating potential oversold conditions.
5. RSI (Relative Strength Index):
RSI around 30-40 suggests the asset is approaching oversold territory, which could attract buyers.
Trade Strategy
1. Long Position: Reversal Play
Entry Point: $2.05 to $2.10 (accumulation zone near the support level of $2.00).
Targets:
šÆ Target 1: $2.30 (local resistance).
šÆ Target 2: $2.50 (extended resistance).
šÆ Target 3: $2.70 (mid-term resistance if bullish momentum persists).
Stop Loss: $1.95 (below the key support zone).
2. Short Position: Break Below $2.00
Entry Point: Below $1.98 (confirmation of breakdown).
Targets:
šÆ Target 1: $1.85 (recent historical low).
šÆ Target 2: $1.70 (psychological level).
šÆ Target 3: $1.50 (major support zone).
Stop Loss: $2.05 (above breakdown level).
3. Scalping Strategy: High Volatility
Use 15m and 1h timeframes to catch rapid movements.
Entry when price nears $2.00 or $2.30, using a tight stop-loss.
Aim for 2-5% profit per trade within the given volatility range.
Key Notes
Watch for volume spikes to confirm direction.
If price consolidates between $2.00 and $2.30, avoid over-leveraging.
Monitor broader market sentiment, as XNO is sensitive to Bitcoin (BTC) and market-wide trends.