$DCR
/USDT Technical Analysis:๐ฅ๐ฏ
Current Price: $16.25
Market Trend: Bearish in the short term, with a -6.12% drop over the last 24 hours.
Support Level: $15.53 (recent 24h low), suggesting the potential for further price testing near this level.
Resistance Level: $17.47 (recent 24h high), likely to serve as a strong barrier for upward movement.
Momentum: Currently bearish due to the price decrease and slight volume reduction, but with potential for consolidation before next price action.
Trade Signal & Target Levels:
1. Buy Signal: If the price breaks and holds above $16.86, it may signal a bullish reversal. Entry around $16.90.
Target 1: $17.47 (Resistance).
Target 2: $18.00 (Fibonacci retracement extension).
Target 3: $19.00 (Next higher resistance).
2. Sell Signal: If the price breaks below $15.53, it might drop further. Short entry around $15.45.
Target 1: $14.50 (Support area).
Target 2: $14.00 (Next support zone).
Target 3: $13.50 (Lower channel support).
Momentum Outlook:
Bearish Momentum: Likely, in the short-term if the price fails to reclaim the $16.86 level.
Bullish Reversal: Watch for bullish signs at $16.86 to $17.47 for upward continuation.
Monitor the market for momentum shifts, keeping an eye on volume and breakouts above/below key levels.