$AI /USDT Technical Analysis trading setup ,šš„
Current Price: $0.7354
Recent Trend: The price has shown a sharp rebound, gaining +17.83% in the last 24 hours but remains bearish on larger timeframes.
Key Observations (4H Chart)
1. Resistance Levels:
Immediate resistance at $0.7500, aligning with the 200 EMA.
Major resistance at $0.8000, a psychological barrier.
2. Support Levels:
Immediate support at $0.7000 (recent breakout level).
Strong support at $0.6150, the 24-hour low.
3. Momentum Indicators:
RSI: Currently at 55, suggesting neutral momentum but leaning toward bullish if it crosses 60.
MACD: Shows a bullish crossover, indicating upward momentum.
4. Trendlines: The price is trading within a descending channel, and a breakout above $0.7500 could trigger strong bullish momentum.
Trade Signals
Entry:
Buy: Enter near $0.7200-$0.7350 after confirming support.
Sell/Short: If price fails to sustain above $0.7500, short near $0.7450-$0.7500.
Targets (Long Trade šÆ):
1. Target 1: $0.7600
2. Target 2: $0.8000
3. Target 3: $0.8500
Targets (Short Trade šÆ):
1. Target 1: $0.7000
2. Target 2: $0.6500
3. Target 3: $0.6150
Stop Loss:
For long trades, set a stop loss at $0.7000.
For short trades, set a stop loss at $0.7550.
Momentum
Short-Term (Bullish): Positive rebound seen on shorter timeframes (15m and 1H).
Mid-Term (Bearish): Downtrend still intact on the 4H and daily charts unless $0.8000 is breached.
Conclusion: Watch for a breakout above $0.7500 for bullish momentum or a breakdown below $0.7000 for bearish continuation. Trade carefully with tight stop losses and adjust positions based on market activity.
