Technical Analysis ($THE
/USDT
Current Price: 1.2210 USDT
Price Action: The price is currently above the 24-hour low (1.0623) and is showing upward momentum with a recent gain of 3.76%. This suggests a potential bullish trend in the short term.
Key Indicators:
Support: 1.0623 (24h Low) – Critical support level.
Resistance: 1.2927 (24h High) – Potential resistance level.
Moving Average (MA): The price may be testing key moving averages in the coming hours to confirm bullish continuation.
Momentum: Positive momentum indicated by the 3.76% increase, but caution is advised as it approaches the resistance zone. Watching volume patterns could provide insights into strength.
Trade Signal and Target Levels:
1. Entry Point: 1.2200 (current price or slight dip)
2. Target Levels (🎯):
Target 1: 1.2500 (potential resistance breakout level)
Target 2: 1.2800 (next strong resistance)
Target 3: 1.3000 (psychological level and further resistance)
3. Stop Loss: 1.0800 (below 24h low support)
Trade Momentum:
Bullish Momentum: Given the recent price rise and a general positive sentiment, the momentum seems bullish. However, traders should watch for any price rejections around the resistance levels. Adjust trades accordingly based on volume and broader market sentiment.