technical analysis and trade signal for the $CREAM /USDT pair:
Current Price: 12.79 USDT
24h High: 14.48 USDT
24h Low: 12.43 USDT
24h Volume (CREAM): 265,394.29 CREAM
24h Volume (USDT): 3.63M USDT
24h Change: -10.31%
Support and Resistance Levels:
Resistance: 14.48 USDT (Recent High)
Support: 12.43 USDT (Recent Low)
Key Indicators:
RSI (Relative Strength Index): Likely between 30-40, suggesting that the asset is nearing oversold conditions, which could indicate a potential reversal to the upside.
MACD: A bearish trend is currently visible, but the price is near the support, which could present an opportunity for a trend reversal.
Price Action:
The price has recently fallen, showing a significant decline of -10.31% in the past 24 hours. Currently, it is hovering near the support level of 12.43, which could signal a potential for a bounce back to the upside.
Trade Signal:
Long Entry:
Entry Point: 12.50 USDT (close to current price)
Reason: The price is near a strong support level (12.43), and the RSI indicates the possibility of an oversold reversal. A price bounce here is likely.
Target Levels:
Target 1 (T1): 13.20 USDT (Immediate resistance level)
Target 2 (T2): 13.70 USDT (Next key resistance)
Target 3 (T3): 14.00 USDT (Key resistance level, prior 24h high)
Stop Loss:
Stop Loss: 12.00 USDT (Below the recent low at 12.43)
Trade Momentum:
Bullish Momentum: If the price breaks through the 13.20 resistance level and holds, this would indicate a strong bullish reversal with further upside potential. Targeting 13.70 and 14.00 as higher resistance zones.
Bearish Momentum: If the price breaks below 12.43, we could see further downside toward 12.00 and below, continuing the bearish trend.
Conclusion:
The current trend shows strong support near 12.43, with a potential for a short-term upward move if the price holds this support level.
Keep an eye on key resistance levels at 13.20 and 13.70. If these are breached, the market could show more bullish potential.