$ATM
/USDT technical analysis and trade strategy🎯
1. Price Action:
Current Price: $2.73, showing a 15.18% increase in the last 24 hours, indicating a strong bullish trend.
24h High: $2.820 – The price is approaching the upper boundary of its recent range, indicating the potential for a breakout or a pullback.
24h Low: $2.357 – Solid support level, suggesting strong buying interest in the $2.35-$2.40 range.
2. Trend Indicators:
Moving Average (MA): The 13.25% increase today shows bullish momentum, with a strong upward trend over the last 7 (22.46%) and 30 days (34.75%).
Trade Strategy:
Entry:
Buy Zone:
Enter near $2.60-$2.70 if there’s a minor retracement or if price consolidates near these levels.
A breakout above $2.82 (the 24h high) would also be a strong entry signal, confirming the continuation of the uptrend.
Target Keys 🎯:
1. Target 1: $3.00 (Approx. +9.9% gain from $2.73)
The first target is based on the psychological resistance around $3.00, a round number and potential profit-taking area.
2. Target 2: $3.20 (Approx. +17.2% gain from $2.73)
The second target is based on continued momentum if the price breaks above $3.00. This level is a potential extension of the current trend.
3. Target 3: $3.50 (Approx. +28.6% gain from $2.73)
A more aggressive target based on the current trend, potentially representing a new high. This would be a logical target if the bullish sentiment persists.
Stop Loss:
Stop Loss Zone: Consider placing the stop loss around $2.35-$2.40, just below the recent low and key support area, to protect against sudden downturns.
Trade Execution:
Risk-to-Reward: With a stop loss at $2.40, the Risk-to-Reward ratio for Target 1 would be favorable, giving a 1:2 ratio, with higher potential rewards on subsequent targets.
Position Sizing: As always, adjust your position size according to your risk tolerance, generally risking no more than 1-2% of your capital per trade.
