$PROM
/USDT Slight Recovery Momentum Update šÆ š„ šÆ
Overview:
Current Price: 6.42 USDT (-1.23%)
24h Range: 5.954 - 6.526 USDT
Volume: 283,574.92 PROM (1.77M USDT)
Trend: Slightly bearish with potential for a reversal near key support levels.
Key Levels:
Support: 6.00 (Immediate), 5.95 (Strong Support).
Resistance: 6.50 (Immediate), 6.60 (Recent High).
Trade Strategy:
1. Entry:
Long above 6.50 (breakout), or near 5.95 with confirmation for a bounce.
2. Targets šÆ:
šÆ Target 1: 6.50 (Immediate Resistance).
šÆ Target 2: 6.60 (Recent High).
šÆ Target 3: 7.00 (Bullish Extension).
3. Stop-Loss:
Below 5.90 to manage risk effectively.
Momentum Check:
RSI: ~42, indicating mild bearish momentum, but potential for reversal at support.
MACD: Slightly negative, signaling the current downtrend may continue unless a strong breakout occurs.
Volume: Relatively low, suggesting lack of strong continuation in either direction.
Tip:
Watch for a bounce off 5.95 for a potential long position or a breakout above 6.50 for further upside momentum. Keep stop-loss levels near 5.90 in case of continued downside.
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