🚨 Updated SMC Trading Signal: UNFI/USDT 🚨
📊 Market Overview:
Last Price: $2.552 (-5.34%)
Mark Price: $2.552
24H High: $2.708
24H Low: $2.530
24H Vol (UNFI): 2.40M UNFI
24H Vol (USDT): $6.35M
🔍 Technical Indicators:
KDJ Indicators:
K: 36.982
D: 49.998
J: 10.950
The J value has dropped significantly, indicating strong bearish momentum. The K value being below D further supports this bearish outlook.
🕯️ Candlestick Analysis:
UNFI is approaching its 24H low of $2.530. If this level holds, it could act as support; however, if it breaks, expect further declines.
📈 RSI Analysis:
The decline in the J value suggests oversold conditions may be near, but the continued downward movement indicates that the market sentiment is still bearish.
💡 Predicted Direction:
Long Entry: Consider a long position only if UNFI shows a clear bounce from the $2.530 support level. A strong bullish candle above $2.570 could be an entry signal, targeting a move back towards $2.600-$2.620.
Short Entry: If UNFI breaks and closes below $2.530, this could signal further downside. A short position could target $2.500 or lower.
Target Price for Long: $2.600-$2.620, with a tight stop loss around $2.520.
Stop Loss: For a short position, place your stop loss slightly above $2.570 to minimize risk.
⚠️ Risk Management:
Given the strong bearish momentum, it's crucial to manage your risk carefully. Use appropriate position sizes and stop losses to protect against unexpected moves.
🔔 Stay Alert:
Monitor price action closely, particularly around the $2.530 support level. Any break below this could lead to accelerated selling.
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