Technical Analysis: $THE/USDT
Current Price: $2.4553 (+7.41%)
Market Overview
Momentum: Mixed; short-term bearish pressure, mid-term recovery signs.
Key Levels
Support: $2.20 (critical rebound level)
Resistance: $2.88 (recent high and breakout zone)
Indicators
1. RSI: ~48, neutral.
2. Moving Averages:
50 EMA: Support at ~$2.30.
200 EMA: Above price, reflecting a long-term bearish trend.
3. Volume: Rising, signaling breakout potential.
Trend Analysis
Short-Term: Bullish correction post-decline.
Mid-Term: Consolidation; breakout potential above $2.88.
Trade Signals
Buy Zone: $2.30 – $2.45
Targets:
1. $2.60 (short-term resistance)
2. $2.78 (key breakout level)
3. $3.00 (psychological resistance)
Stop Loss: $2.18 (below strong support).
Trade Strategy
1. Aggressive Traders: Enter now; scale out near $2.60+.
2. Conservative Traders: Wait for a pullback to $2.30 or breakout above $2.88.
Key Observations
Breakout Above $2.88: Could push towards $3.20+.
Below $2.20: Risks retesting $2.00.
Risk-Reward: Favorable for short-term gains. Monitor volume for decisive moves.
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