$GFT /USDT Technical Analysis & Trade Signals
Market Overview
Current Price: $0.00515
Trend: Bearish (strong downtrend with price falling significantly over 24 hours)
Volume: High (3.39B GFT), suggesting significant activity but dominated by selling pressure.
Key Support Level: $0.00504 (24h low)
Key Resistance Level: $0.00560 (recent consolidation zone)
Momentum Indicators:
1. RSI (Relative Strength Index): Oversold (<30), indicating potential for a short-term bounce or correction.
2. MACD: Bearish crossover, confirming the downtrend but signaling a potential slowdown.
3. Moving Averages (MA):
50 EMA: Above current price, indicating bearish momentum.
200 EMA: Far above current price, confirming long-term downtrend.
Trade Setup
Short-Term Trade (Momentum: Bearish)
Entry: $0.00515 (Current price)
Stop Loss: $0.00570 (Above resistance level)
Targets 🎯:
1. Target 1: $0.00500 (First support zone)
2. Target 2: $0.00480 (Previous swing low)
3. Target 3: $0.00450 (Major psychological support)
Momentum:
Trend Continuation: Bearish if price stays below $0.00530.
Reversal Signal: Watch for breakout above $0.00570 with increasing volume.
Trade Signal Summary
Short Position Recommended: As long as the price remains below the $0.00530 resistance.
Caution: High risk of volatility; adjust position size accordingly.
Monitoring Tip: Use 15m and 1h charts to confirm entry signals and track momentum.