Technical Analysis for $FLUX /USDT:

Current Price: $0.7345

24h High: $0.8232

24h Low: $0.7334

Trend: Bearish (since the price has been declining recently)

Support and Resistance Levels:

Immediate Support: $0.7300

Immediate Resistance: $0.7500

Key Resistance Level: $0.8100

Indicators:

1. RSI (Relative Strength Index): Currently at 30, indicating oversold conditions. A potential reversal or bounce could be imminent if the price stays near this level.

2. MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, confirming a bearish trend in the short term.

3. Volume: 24h volume shows a steady downward trend, indicating weak buying interest in the current price zone.

Price Action:

The price is forming a downward channel, and a small correction might be expected before continuing the downward trend.

Trade Momentum:

Given the current trend, the market momentum is bearish. However, there are potential reversal points in the short term if the price reaches key support levels.

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Trade Signal:

Entry: Around $0.7300 - $0.7400 (near the support level, with confirmation of a reversal).

Stop Loss: $0.7250 (below the immediate support level to manage risk).

Target 1: $0.7500 (near immediate resistance level)

Target 2: $0.7800 (next resistance point)

Target 3: $0.8100 (if the trend turns bullish)

Trade Setup:

Short-term Bearish Momentum: Watch for a bounce near $0.7300 for a potential upward reversal. If the price fails to break $0.7300, further downside is likely.

Long-term: If FLUX/USDT holds above $0.7300, the price could retrace toward $0.8100, which aligns with a short-term bullish trend. But if support fails, the price may fall toward $0.6900.

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