๐๐๐ฅ๐ฅ technical analysis and trade signal for $VANA /USDT with three target levels and trade momentum:๐ฅ๐ฅ๐๐
Technical Analysis:
1. Current Price: $16.69
2. Support Level: $15.33 (24h Low)
This is a critical support level where the price may find buying interest if it dips further.
3. Resistance Level: $23.99 (24h High)
The price recently reached this resistance, and it could act as a significant barrier if it attempts to rise again.
4. RSI (Relative Strength Index): Currently below 30 (Oversold)
RSI shows the asset is potentially oversold, signaling a possible reversal to the upside soon, or at least stabilization.
5. SAR (Stop and Reverse): $15.86
The SAR suggests the current downtrend might be ending near this level, potentially reversing to an uptrend.
6. MACD (Moving Average Convergence Divergence): The MACD is showing bearish momentum, but could shift to a bullish crossover if the price rises above $17.50.
Trade Signal:
Long (Buy) Signal:
Entry: $16.90 (Above SAR and near recent lows)
Stop Loss: $15.30 (Support level)
Target Levels:
1st Target: $18.50 (Initial resistance, a safe exit or partial profit-taking)
2nd Target: $21.00 (Intermediate resistance)
3rd Target: $23.00 (Previous high, strong resistance area)
Short (Sell) Signal:
Entry: If price breaks below $15.30, a short position could be considered.
Stop Loss: $16.90 (Resistance level)
Target Levels:
1st Target: $14.50 (Extended support region)
2nd Target: $13.00 (Major lower support)
3rd Target: $12.00 (Longer-term bearish move)
Trade Momentum:
Bearish Momentum: In the short term, the market is showing strong bearish momentum as indicated by the drop of over 27% in 24 hours. Sellers dominate, but an oversold condition signals a potential reversal.
Bullish Momentum: If the price breaks above $17.50, expect a bullish shift in momentum, particularly as the RSI recovers from oversold conditions and the price might target $21-$23 range.
