technical analysis and trade signals for the $TURBO /USDT pair based on the data provided:
1. Current Price: 0.007564 USDT
2. 24h High: 0.008415 USDT
3. 24h Low: 0.007433 USDT
4. 24h Price Change: -6.90% (indicating recent selling pressure)
Support & Resistance Levels:
Support Level 1: 0.007433 USDT (recent low, critical for a reversal)
Support Level 2: 0.007200 USDT (additional support if selling pressure persists)
Resistance Level 1: 0.007850 USDT (immediate resistance after recent drop)
Resistance Level 2: 0.008000 USDT (key psychological level)
Resistance Level 3: 0.008415 USDT (previous 24h high)
Indicators & Momentum:
RSI (Relative Strength Index): Suggests the market is oversold (if under 30), which could imply a possible reversal if buyers enter.
MACD (Moving Average Convergence Divergence): If the MACD line crosses above the signal line, this would indicate bullish momentum.
Volume: Trading volume of 4.27B TURBO suggests decent market participation, but low USDT volume (34.02M) implies lower liquidity and potential for volatility.
Trade Signals & Targets
1. Bearish Scenario (Short)
Entry: 0.007550-0.007600
Target 1: 0.007430 (Support Level 1)
Target 2: 0.007200 (Support Level 2)
Target 3: 0.007000 (Potential deeper support)
Stop Loss: Above 0.007850 (Resistance Level 1)
Momentum: The market has shown a 6.90% decrease in the last 24 hours, with a high of 0.008415. If momentum continues bearish, targets below the 24h low could be reached.
2. Bullish Scenario (Long)
Entry: 0.007450-0.007500
Target 1: 0.007850 (Resistance Level 1)
Target 2: 0.008000 (Resistance Level 2)
Target 3: 0.008415 (Previous 24h high)
Stop Loss: Below 0.007200 (Support Level 2)
Momentum: If buying pressure picks up and pushes the price above resistance levels, this could signal a reversal and trend continuation upwards.
Trade Strategy:
Bullish Confirmation: Look for a price action breakout above 0.007850 with increased volume for confirmation of upward movement.