technical analysis and trade signal for $THE /USDT with three target levels and momentum:
Current Price: $1.72 (+26.17%)
24h High: $1.82
24h Low: $1.33
Volume (THE): 45.42M
Volume (USDT): 71.37M
Key Support and Resistance Levels
🔵 Support Levels:
$1.33 (Strong support from recent lows)
$1.50 (Minor support zone)
🔴 Resistance Levels:
$1.82 (24h high, strong resistance)
$2.00 (Psychological resistance)
Trade Signal & Target Levels 🎯
Buy Entry: Enter at $1.72 or on a pullback near $1.50.
This price zone is optimal for capturing potential upward momentum.
Target Levels:
Target 1: $1.82 (Immediate resistance, take partial profits here)
Target 2: $1.90 (Mid-term target, solid resistance point)
Target 3: $2.00 (Key psychological resistance, strong profit-taking point)
Stop-Loss: Place stop at $1.33 (just below the recent support) to manage risk.
Momentum Analysis
Bullish Momentum: The price has been moving upwards with significant volume, indicating strong buying interest. The recent 24h gain of 26.17% supports continued upward momentum.
RSI (Relative Strength Index): RSI is likely to be in an overbought range due to recent price movements, so be cautious of a pullback to test support levels.
MACD (Moving Average Convergence Divergence): The MACD is likely showing a bullish crossover, confirming the upward trend. Monitor for a possible divergence in the coming hours, indicating weakening momentum.
Recommendation
The trend is bullish, but caution is advised if the price nears overbought territory. For traders, buying on dips near support levels like $1.50 could yield good profits. Use Target 1 ($1.82) to partially exit and Target 2 ($1.90) for further profits, while Target 3 ($2.00) serves as the final exit point.