$CTXC l. Long-term analysis: Important support and resistance: Strong support: 0.5000 USDT: Historical level, represents an opportunity to attract buyers in the long term. 0.3000 USDT: Lower support level if the support is broken. Strong resistance: • 0.7000 – 0.7500 USDT: Nearby level if the upward momentum is restored. • 1.0500 USDT: Upper resistance and recent high.
2. Basic indicators: • RSI: • In the long term, the RSI is currently in oversold levels (<span which means that the market may be ready for a gradual rebound. • MACD: • Indicates a decline in the downward momentum, and if the two lines move upwards with a positive crossover, this may be a signal for the start of a new upward wave. • Trading Volume • Large trading volumes indicate strong interest in the market, which could create a potential bottom in current prices.
Long-term strategy:
Driving (DCA: • The driving strategy can be applied at support levels: • Buy at 0.6300 – 0.6000 USDT. • Increase the purchase at 0.5000 USDT if the price drops further. • Keep part of the capital to buy at lower levels (such as 0.3000 USDT) in case the decline continues.
(Take Profit): • First target: 0.7500 USDT (nearby). • Second target: 1.0500 USDT (recent high). • Third target: if the resistance at 1.0500, the price may rise towards 1.2000 – 1.5000 USDT in the long term.
Trend direction: The general trend appears to have been bullish previously (highest level reached 171.7) but turned into a sideways trend slanted to the downside, especially after the sharp drop to 119.1. The current yellow dots (SAR) are located above the candles, indicating the continuation of the downward trend in the short term
Buying opportunities: Support levels: Strong support level appears at 119.1 (the area from which the price previously rebounded). If the price continues near 138.6 - 138.7 with the indicators remaining stable or bullish, this may be a suitable level for buying. Buying support indicator: RSI at 33.2 is close to the oversold area (close buying opportunity). If positive signals appear such as RSI crossing upwards or MACD breaking the ascending line.
Selling opportunities: Resistance levels: The first resistance level is at 147.6 (according to the yellow dots). Strong resistance at the previous high level of 171.7. Supporting indicators for selling:
If the price rises to resistance levels with the RSI reaching the overbought area (above 70).
If the MACD crosses negatively or the RSI breaks down.
Conclusion: Current trend: The trend is tending to decline in the short term.
Buying opportunity: At the support level 138 - 135 with confirmation from technical indicators (RSI and monitoring momentum)Selling opportunity: At the resistance 147 - 150 with a stop loss to avoid a trend reversal.
It is preferable to follow the momentum and trading volume to ensure the validity of the trend before making a decision.
To determine the buying and selling areas for speculation based on the attached images, the following factors can be used:
1. Technical indicators: • RSI (Relative Strength Index): • If the RSI is below 30, this indicates an oversold condition (buying opportunity). • If the RSI is above 70, this indicates an overbought condition (selling opportunity). • Stochastic RSI: • If the Stochastic RSI is close to 0 (oversold area), this indicates a buying opportunity. • If it is close to 100 (overbought area), this indicates a selling opportunity. • MACD: • If the MACD line (yellow) intersects the signal line (blue) upwards, this is a buy signal. • If it intersects downwards, this is a sell signal.
2. Volume: • High volumes with rising price mean that momentum is strong (buying can continue). • Low volumes with rising price indicate weak momentum (opportunity for correction or selling).
3. Supports and Resistances: • Nearby support area: 1,936 – 1,950 USDT (buy at this level with stop loss below support). • Nearby resistance area: 1,962 – 1,970 USDT (sell at these levels if momentum weakens).
4. Additional signals (Parabolic SAR): • Yellow dots: • If they are below the candles, this indicates an uptrend (buying continues). • If they are above the candles, this indicates a downtrend (selling continues).
Looking at the chart shown, the following points can be extracted to determine the best buying and selling points based on technical analysis:
1. Best Buy Price: • The average buy price shown at 108.7 is considered a strong support point. • The candle that reached 119.1 represents a potential rebound from an important support level. • If the price returns to the range between 116 - 120, it may be a good buying opportunity if supported by additional signals (such as increased trading volume or RSI and Stochastic Oversold indicators).
2. Best Sell Price: • The highest price reached is 171.7, which is a current major resistance. • Good selling levels start from 150 - 155 if there is a weakness in momentum or reversal signals.
3. Duration to achieve the goals: • Given the nature of the apparent movement: • If the price breaks the resistance level at 138 - 140 with strong momentum, it may quickly move towards 150 - 155 within a week or less. • In case the price falls towards 116, the rebound and return to the resistance may take a few weeks.
4. Supporting signals: • RSI (33.3): Indicates that the market is close to the oversold area, which supports the possibility of an upside soon. • Stochastic RSI (32): Also indicates that the end of the selling area is near. • Parabolic SAR: Indicates the continuation of the downtrend, so we should wait for a breakout of resistance levels to confirm the reversal.
Recommendation: • Buy: Wait for the price to approach 116 - 120 with confirmation of positive signals.Sell: at levels 150 - 155.
1. Best Buy Points: • At support areas, which show a bounce or stability. • In the chart, the 35.16 level (defined below the first ascending line) appears to be a suitable buy level, as it was followed by a clear rise. 2. Best Sell Points: • At resistance areas, or when clear sell signals appear. • The 71.64 level is an excellent sell point based on the chart, as it was followed by a strong decline. 3. Indicators Used: • SAR: Shows trend reversal points, and changing positions indicate entry and exit opportunities. • RSI: At levels below 30 (oversold signal), these are good buy points, and at levels above 70 (overbought), it is preferable to sell. • MACD: The intersection between the lines can be an indication of a trend reversal. 4. Time frame to achieve the goals: • Depending on the chart, the time frame to achieve the buying and selling movement (as in the example 35.16 to 71.64) can range from 3-7 days.
Note: To determine more accurate points, it is preferable to follow the price action and the ongoing patterns, while monitoring the changes in indicators such as RSI and MACD to ensure the appropriate entry and exit.
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