technical analysis for the $THE /USDT pair with three target levels and trade momentum based on the provided data:
Current Price: 2.5354 USDT
24h High: 3.0899 USDT
24h Low: 2.4111 USDT
24h Change: -12.62%
24h Volume: 177.10M USDT
1. Price Trend and Support/Resistance Levels:
Support Level: 2.4111 USDT (Recent 24h Low)
Resistance Level: 3.0899 USDT (Recent 24h High)
Given the current price is at 2.5354 USDT, it's important to monitor the immediate support and resistance levels.
2. Target Levels 🎯:
Target 1: 2.75 USDT (Initial Short-Term Resistance)
A potential rebound could bring the price back to this level, especially if it finds support above the 2.4111 level.
Target 2: 3.00 USDT (Medium-Term Target)
The market could move toward 3.00 USDT if buying pressure continues to push the price upward, surpassing 2.75.
Target 3: 3.12 USDT (Long-Term Target)
If bullish momentum persists and the resistance at 3.0899 is broken, this level could be the next key resistance point.
3. Trade Momentum:
Momentum Indicator: Currently, the momentum appears to be bearish as the price has dropped by around -12.62% in the past 24 hours.
Short-Term Trend: Neutral to Bearish – A breakout above 2.75 would indicate a shift toward a bullish trend.
Long-Term Trend: Bearish, with a chance of reversal if support at 2.4111 holds.
Trade Signal:
Buy Signal: If the price holds above 2.50 USDT and begins to test resistance at 2.75, look for potential entries.
Sell Signal: If the price breaks below 2.4111 USDT, consider shorting the asset, targeting the next support levels at 2.25.