$FXS

FXS/USDT Technical Analysis – 23 Dec 2024 🚀📈

💰 Current Price: $3.227 (+29.18%)

📊 24H High/Low: $3.724 / $2.386

🔄 24H Volume: 17.77M FXS ($56.41M USDT)

📈 Market Overview

FXS/USDT continues its explosive rally, gaining +29.18% in the last 24 hours. With price movement nearing significant resistance levels, traders should focus on key support and resistance zones, along with technical indicators like SAR and MACD.

🎯 Key Targets

1️⃣ Target 1: $3.60

Why: This aligns with the SAR level ($3.599), representing a crucial resistance zone. Breaking this level signals continued bullish momentum.

🔥 Action: Look for confirmation with volume spikes and sustained price action above $3.50 before entering.

2️⃣ Target 2: $3.72

Why: The 24h high ($3.724) is the next major resistance. A breakout here could lead to a stronger upward trend, attracting additional buyers.

🚀 Action: Watch for Bollinger Band expansion and EMA crossovers for validation.

3️⃣ Target 3: $4.00

Why: A psychological resistance level and a key Fibonacci extension level. Breaking $3.72 could pave the way for a test of this round number.

⚡ Action: Ensure strong momentum and volume support before targeting $4.00.

📌 Indicators to Watch

SAR (Stop and Reverse): Key resistance at $3.599—holding above this is critical for bullish continuation.

📊 Bollinger Bands: Price nearing the upper band indicates high volatility and potential breakout.

📈 MACD: Look for bullish crossovers to confirm upward momentum.

🎯 Trading Strategy

1. 🔑 Support Levels: $3.00 (minor support) and $2.823 for risk management.

2. 📉 Momentum Play: Enter on breakout above $3.60 or after a pullback to $3.00. Place stop-loss below $2.80.

3. 💸 Profit Booking: Scale out at $3.72 and $4.00 while using a trailing stop-loss to secure gains.

#USJoblessClaimsFall #MicroStrategyInNasdaq100 #CorePCESignalsShift #BinanceLabsBacksUsual