#SANTOSUSDT Achieves First Profit Target: Awaiting Second Target
$SANTOS
On July 21, a detailed analysis of SANTOSUSDT highlighted potential bullish momentum with key indicators pointing towards an upward trend. The price, trading at $2.897, was testing the 200-period SMA at $2.896 and had crossed above the VWAP at $2.877.
The RSI at 58.64 and positive MACD readings suggested a continuation of the bullish trend, with volume spikes further supporting strong buying interest.
In the 4-hour timeframe, SANTOSUSDT has successfully reached its first profit target of $3.10, marking a significant milestone.
The 1-hour timeframe analysis also indicated sustained bullish momentum, with the price above the 200-period SMA and VWAP, and an RSI nearing overbought territory.
With the first target met, the focus now shifts to the second profit target of $3.30.
However, traders should remain cautious as the price approaches overbought conditions near the upper Bollinger Band, suggesting possible consolidation before further upward movement. If the price falls below the VWAP and the 200-period SMA, a trend towards $2.70 and $2.50 could be anticipated.
This successful analysis underscores the importance of technical indicators and market trends in making informed trading decisions. Congratulations to those who reached their first profit target; the journey continues as we monitor the next potential move.
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