$PROS Next short term target strategy:
For a short-term analysis of the next target for PROS/USDT, let's focus on potential levels based on current trends and indicators:
Key Observations
1. Overbought Indicators:
Both RSI (75.5) and Stochastic RSI (83) indicate that PROS is currently in overbought territory. This may lead to a pullback or consolidation before another upward move.
2. Resistance and Support Levels:
Resistance: The recent high at 1.1722 is an immediate resistance level. If the price breaks above this, the next target could be around the 1.2129 level, which aligns with the next Fibonacci retracement level.
Support: If the price fails to break above 1.1722, the first support level is at 0.9146. This is a key level that could act as a floor during a potential pullback.
3. Trend and Moving Averages (EMA):
The EMAs are still in a bullish setup (shorter EMAs above longer ones), suggesting the trend is currently bullish. However, the price may need to cool down before resuming upward.
Short-Term Targets
Bullish Scenario:
If the price breaks and holds above the 1.1722 resistance, the next target could be around 1.2129.
Further momentum might push it to test even higher psychological levels, but caution is advised due to overbought conditions.
Bearish Scenario:
If the price fails to hold above the current levels, a retracement towards 0.9146 could be expected.
Further weakness might bring the price down to 0.6163, which is a more substantial support based on past price action and Fibonacci levels.
Strategy
Short Position: If you’re looking to short, consider entering near the resistance at 1.1722, with a stop-loss slightly above to manage risk. Target the 0.9146 level for a potential pullback.
Long Position: If the price successfully breaks above 1.1722 and sustains that level, you could aim for a short-term target around 1.2129 with proper risk management.
Note: Due to high volatility, it’s advisable to monitor these levels closely and set stop-losses to protect against sudden price movements.
