#FLUXUSDT 1-Hour Chart Analysis By CryptoPM Team
1. Price Action & Trend:
- FLUXUSDT surged, breaking key resistance at $0.5443 and $0.5949, reaching a high of $0.7077. The breakout above $0.5443 suggests a bullish reversal.
2. Support & Resistance:
- Support: $0.5949, $0.5443, $0.4918
- Resistance: $0.7077
3. RSI Indicator:
- The RSI is overbought, indicating potential for a pullback or consolidation. Watch for RSI to remain high for continued bullish momentum.
4. Pattern Observation:
- A breakout from the descending trend line indicates a shift from bearish to bullish. Price is forming a higher high, signaling an uptrend.
Trading Strategy
1. Long (Buy) Position:
- Entry: On pullback to $0.5949
- Targets: $0.7077, then $0.75-$0.80 if momentum continues
- Stop Loss: Below $0.5443
2. Short (Sell) Position:
- Entry: On reversal near $0.7077
- Targets: $0.5949, then $0.5443
- Stop Loss: Above $0.71
Summary:
- Buy near $0.5949, targeting $0.7077+, with stop below $0.5443.
- Sell on reversal at $0.7077, targeting $0.5949 and $0.5443, with stop above $0.71.
Monitor price action and RSI for confirmation.
