#HARDUSDT 1-Hour Chart Analysis
1. Price Action and Patterns:
- The chart shows a strong uptrend with higher highs (HH) and higher lows (HL).
- A rounded bottom pattern has formed, indicating a bullish reversal.
- The price recently broke above a descending trend line, signaling a shift in momentum.
2. Key Support and Resistance Levels:
- Support:** 0.1227, 0.1085, and 0.0965. Look for buying opportunities near these levels.
- Resistance: 0.1859 (current high) and 0.2000 (psychological level). Watch for potential rejections or breakouts.
3. RSI Indicator:
- RSI is in a bullish zone but be cautious of bearish divergence, suggesting weakening momentum.
- A move into overbought territory could signal a pullback.
Trading Strategy:
1. Long (Buy) Position:
- Entry: Consider buying on pullbacks near the 0.1227 support level.
- Targets: 0.1859 and 0.2000.
- Stop Loss Below 0.1200 to manage risk.
2. Short (Sell) Position:
- Entry: Look for selling opportunities if price shows signs of reversal at 0.1859 resistance.
- Targets: 0.1227 and 0.1085.
- Stop Loss: Above 0.1900 to avoid a false breakout.
Summary:
- Buy on dips near 0.1227, targeting 0.1859 and 0.2000.
- Sell on signs of reversal at 0.1859, targeting 0.1227 and 0.1085.
Stay alert to price action near key levels and use RSI for momentum confirmation.
