Trading Analysis for $STEEM /USDT (30m)
Current Price: $0.2608 (+29.49%)
Technical Overview:
$STEEM /USDT has experienced a strong breakout, surging over 29% in a single session. The price is testing new highs, indicating strong bullish momentum. Key levels have been identified to manage potential pullbacks or continued upward momentum.
Targets:
1. Target 1 (Support): $0.2400
Immediate support level where buyers may step in on a pullback to maintain bullish momentum.
2. Target 2 (Resistance): $0.2750
A critical resistance level to watch. A break above this could signal a continued bullish rally.
3. Target 3 (Breakout Zone): $0.3000
Major psychological level. A breakout here could confirm the beginning of a strong uptrend with significant gains ahead.
Action Plan:
Long Positions: Enter on pullbacks near $0.2400 if the support holds. Target $0.2750 for partial profit-taking and $0.3000 for a full exit.
Short Positions: Look for rejection at $0.2750 or $0.3000, targeting $0.2400.
Risk Management: Place stop-losses below $0.2300 for long trades and above $0.3050 for shorts.
