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Technical Analysis

1. Trend:

• STRAX/USDT is showing a strong bullish recovery, with a 22.8% increase in the last 24 hours.

• A low of $0.05240 was observed, followed by a sharp rebound and consolidation near $0.08424.

• The price broke above key resistance levels and is currently in a strong uptrend.

2. Support and Resistance:

• Key support levels: $0.08424 (minor support) and $0.06716 (major support from the horizontal level).

• Key resistance levels: $0.09900 (recent high) and $0.10130 (psychological resistance).

3. Momentum:

• Strong bullish momentum is evident from large green candles and increased trading volume, indicating high buying pressure.

• A minor pullback from $0.09900 could occur before the continuation of the uptrend.

Trading Signal

Intraday Long Position

1. Entry Point(s):

• Enter near $0.08600–$0.08800 on a pullback to retest minor support.

• Alternatively, enter above $0.09100 if the price breaks out above $0.09900.

2. Stop-Loss Placement:

• Place the stop-loss at $0.08300 (below minor support at $0.08424) to account for pullbacks.

3. Take-Profit Target(s):

• First target: $0.09500 (short-term resistance).

• Second target: $0.09900 (recent high and key resistance).

• Third target: $0.10130 (psychological resistance and breakout extension).

Alternate Plan (Short if Rejected at Resistance)

If the price fails to hold above $0.09900, consider a short position:

1. Entry Point(s):

• Near $0.09800–$0.09900, after confirmed rejection.

2. Stop-Loss Placement:

• Place the stop-loss at $0.10150, just above the resistance zone.

3. Take-Profit Target(s):

• First target: $0.09200.

• Second target: $0.08600.

Maintain a Risk-To-Reward Ratio of 1:2 or better.

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