Technical Analysis for ELF/USDT
Current Price: $0.4807
Trend: Bullish (up 6.82% in the last 24 hours)
Support: $0.4441
Resistance: $0.5058
Key Indicators:
SAR (Stop and Reverse): 0.4525 (suggesting potential trend reversal if price moves below this level)
Depth: Strong market depth at 0.5089
Trade Signal
Trade Momentum: Bullish (based on the 6.82% price increase and the SAR trend indicator)
Target Levels 🎯
1. Target 1: $0.4900 - Initial resistance break, likely to see short-term profit-taking.
2. Target 2: $0.5000 - Psychological resistance level, where momentum may slow.
3.Target 3: $0.5150 - Strong resistance level near the 24h high.
Trade Setup:
Entry: Buy near $0.4750 (around support, with a potential bounce).
Stop Loss: $0.4525 (below SAR, in case of trend reversal).
Take Profit: Gradually sell at the target levels as price reaches them.
Summary:
The market is showing bullish momentum, with the potential for further gains towards the $0.4900–$0.5150 range. The SAR suggests caution if the price dips below $0.4525, which could signal a trend reversal.
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