Technical Analysis ($DATA
/USDT🔥💯
Price: 0.05068 (+8.55% in the last 24 hours)
Trend: Bullish short-term momentum as price increased by 8.55%. The market seems to be gaining positive momentum.
Support Levels:
Support 1: 0.04603 (previous 24h low)
Support 2: 0.04825 (key level from order book depth)
Resistance Levels:
Resistance 1: 0.05081 (recent high)
Resistance 2: 0.05100 (order book ask)
Trade Momentum:
Price is on an upward momentum and has recently bounced from the 0.046 support zone.
The overall trend suggests continued upward movement unless price falls below 0.046.
Trade Signal and Targets:
Buy Signal: Market price at 0.05068, with momentum bullish, it's a good opportunity to take positions with the following targets.
1. Target 1: 0.05150 (next resistance level, based on the short-term trend)
2. Target 2: 0.05250 (strong resistance in a moderate trend continuation)
3. Target 3: 0.05500 (extended target if the bullish momentum strengthens further)
Stop Loss: Consider placing a stop loss at 0.04600 to limit downside risk if price reverses.
This analysis suggests the market has a short-term bullish trend with solid momentum; targeting the listed levels should be considered in combination with a stop loss for risk management.