Based on the 1-hour chart of $STPT /USDT:
1. Market Overview: The price is currently at $0.06948, up 1.86% in the last 24 hours. The chart shows increased volatility, with a 24-hour high of $0.07724 and a low of $0.06643.
2. Support and Resistance Levels: Key support is around $0.06643 (recent low), and the immediate resistance is near $0.07400-$0.07700.
3. Entry Strategy for Long Position: Enter a long trade if the price breaks and sustains above $0.07050 with strong volume. Target levels are $0.07450 (initial) and $0.07700 (final). Set the stop-loss at $0.06800 to manage risk.
4. Entry Strategy for Short Position: Enter a short trade if the price breaks below $0.06800 with confirmation. Target levels are $0.06650 (initial) and $0.06500 (final). Stop-loss can be placed at $0.07050.
5. Trend Analysis: The asset shows mixed momentum with high short-term gains. However, the 7-day and 90-day performance (9.21% and 59.47%) indicate bullish sentiment.
6. Risk Management: Use 1-2% of your portfolio for the trade, as the current volatility demands cautious positioning.
7. Indicators to Watch: Keep an eye on volume spikes and RSI for potential overbought or oversold signals.
In conclusion, adopt a disciplined approach with tight stop-loss levels. Trade with the trend, waiting for a confirmed breakout before entering either position.
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