$STRAX
/USDT Technical Analysis and Trade Strategy 🎯 🚀
Technical Analysis:
Current Price: $0.07558
24h High: $0.07642
24h Low: $0.06921
Bollinger Bands (20, 2):
Upper Band: $0.07611 (resistance)
Middle Band: $0.07474 (support)
Lower Band: $0.07338
Parabolic SAR (0.02, 0.2): $0.07344
The price is currently in a bullish trend, staying above the middle Bollinger Band ($0.07474) and the Parabolic SAR level ($0.07344), suggesting upward momentum. The price is testing the upper Bollinger Band ($0.07611) and the 24-hour high at $0.07642, which acts as a resistance zone.
Trade Strategy:
Entry Point (Long):
Enter long near the current price ($0.07558), ideally around $0.07474–$0.07500 if the price dips slightly or consolidates near the middle Bollinger Band.
The Parabolic SAR ($0.07344) acts as a dynamic stop level, so as long as the price stays above this, the bullish trend is intact.
Target Levels:
🎯 Target 1 (First Resistance Zone): $0.07611
This is the upper Bollinger Band. If the price breaks above this level, expect some consolidation or small pullback before continuing higher.
🎯 Target 2 (24h High): $0.07642
The 24h high is an immediate target after breaking through the upper Bollinger Band. If the price sustains above this level, further upside potential is likely.
🎯 Target 3 (Extended Target): $0.07800–$0.08000
If the bullish trend continues, the next significant level of resistance would likely be around $0.07800–$0.08000, a psychological resistance and previous highs.
Stop-Loss:
Place a stop-loss around $0.07330, just below the Parabolic SAR and the lower Bollinger Band, ensuring a safe distance if the trend reverses.
Trade Setup:
1. Entry: Buy near $0.07500–$0.07558 (or wait for a minor pullback to the middle band).
2. Target 1: $0.07611 (upper Bollinger Band).
3. Target 2: $0.07642 (24h high).
4. Target 3: $0.07800–$0.08000 (extended target zone).
5. Stop-Loss: $0.07330 (below the Parabolic SAR and lower Bollinger Band).