$MTL /USDT Technical Analysis – Bullish Rally with Momentum
#MTL /USDT is trading at $1.389, posting a significant gain of +14.13% over the last 24 hours. Here's a detailed breakdown:
Key Levels to Watch
Support Levels:
$1.36: Immediate support level, essential to maintain current bullish momentum.
$1.30: Stronger support zone where buyers are likely to step in if the price retraces further.
Resistance Levels:
$1.50: Immediate resistance and the 24-hour high, where sellers may emerge.
$1.60: A psychological resistance and critical zone for further upward movement.
Trading Signals
Bullish Scenario:
Entry Point: $1.36-$1.38
Target Levels: $1.50, $1.60
Stop-Loss: Below $1.30
If MTL breaks above $1.50, it could trigger a rally toward $1.60, with strong buyer momentum.
Bearish Scenario:
Entry Point: Below $1.36
Target Levels: $1.30, $1.20
Stop-Loss: Above $1.40
A rejection at $1.50 or a breakdown below $1.36 could result in a correction toward $1.30 or lower.
Market Insights
RSI: At 67, nearing overbought territory but still allowing room for upside moves.
MACD: Positive crossover indicates bullish momentum.
Volume: Significant surge in volume reflects heightened market interest.
MTL is showing strong bullish momentum, with potential for further gains if it breaks $1.50. Monitor key levels closely and manage risks effectively to capitalize on either direction.