🚀 $PROM /USDT A Breakout in the Making 🚀

BTC
Created with Highcharts 9.1.1
5.226
-5.32%

$PROM /USDT is trading at $8.43, surging 11.08% in the last 24 hours. The pair has made a strong recovery from its low of $7.42, indicating bullish momentum as it tests critical resistance levels.

Key Levels to Watch:

Support Zones:

$8.00: Immediate support for potential pullbacks.

$7.70: Stronger support to monitor in case of further retracement.

Resistance Zones:

$8.60: Immediate resistance; a breakout could signal more gains.

$8.90: Key level to confirm a bullish continuation.

Trading Strategies:

For Bulls:

Entry Point: Consider entries near $8.00 during pullbacks.

Stop-loss: Set below $7.70 to minimize risk.

Targets: $8.60 and $8.90.

For Bears:

Entry Point: Short positions may be considered if rejected at $8.60.

Targets: $8.00 and $7.70.

Stop-loss: Place above $8.70.

Market Insights:

The RSI at 83.57 indicates overbought conditions, which could lead to a short-term correction. The MACD is showing bullish momentum, with volume significantly rising, supporting the uptrend. A breakout above $8.60 may lead to an extended rally, while failure could result in a consolidation phase.

Keep a close watch as PROM/USDT approaches these critical levels. Will it maintain its upward trajectory or face resistance? Stay sharp for potential volatility!

#TrumpCPIWatch #USPPISoftens