Technical Analysis for $THE /USDT

Current Market Overview

Price: $2.46

24H Low: $2.41 (Key Support)

24H High: $2.99 (Key Resistance)

Momentum: Bearish (downward pressure dominating the market).

Key Indicators:

1. RSI (Relative Strength Index): Oversold zone (possible reversal if price stabilizes).

2. MACD (Moving Average Convergence Divergence): Bearish crossover, signaling continued downward movement.

3. Moving Averages:

50 EMA: Above current price, acting as resistance.

200 EMA: Indicates long-term bearish trend.

Trade Setup and Signals

Entry Points:

1. Aggressive Entry: $2.46 (current price) – Risky but with potential upside.

2. Safe Entry: Near $2.41 (strong support zone) – Safer for long positions.

Targets 🎯

1. Target 1 (T1): $2.60 – First resistance zone (short-term profit).

2. Target 2 (T2): $2.75 – Mid-term resistance (requires strong momentum).

3. Target 3 (T3): $2.99 – Major resistance and profit-taking zone.

Stop Loss (SL):

$2.35: Close below this level may trigger further declines.

Trade Momentum:

Bullish Momentum if:

Price breaks above $2.60 with increased volume.

Bearish Momentum if:

Price drops below $2.41 with high sell pressure.

Recommendation:

Long Trade: If price holds above $2.41 with bullish candles and increasing volume.

Short Trade: If price closes below $2.35 with strong bearish momentum.

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