$HIVE
/USDT Technical Analysis and Trade Strategy🚀🎯
Current Price: $0.3766
24h Range: $0.3133 - $0.3914
Recent Change: +17.87%
Technical Indicators
1. Support Levels:
$0.3500: Immediate support.
$0.3130: Stronger support based on the recent 24h low.
2. Resistance Levels:
$0.3914: Immediate resistance (24h high).
$0.4200: Psychological resistance; previous peaks may test this.
3. Indicators:
Bollinger Bands: The price is near the upper band, suggesting it may consolidate or retrace before another upward move.
MACD: Bullish crossover with MACD above the signal line, indicating ongoing upward momentum.
RSI: Around 70, showing the asset is approaching overbought territory; retracement risk exists.
Trade Strategy
Entry Point
Ideal Entry: $0.3500 - $0.3600 (on a pullback to support).
Stop-Loss: $0.3250 (below the stronger support level).
Target Keys 🎯
1. 🎯 Target 1: $0.4000 – Test of recent high; take partial profit.
2. 🎯 Target 2: $0.4200 – Key psychological level; consider taking additional profit.
3. 🎯 Target 3: $0.4500 – Potential breakout zone if bullish momentum continues.
Risk Management
Risk-Reward Ratio: Aim for a 1:2 or 1:3 ratio (e.g., risking $0.025 to gain $0.050 or $0.075).
Volume Allocation: Start with 50% of your intended position at entry, and scale in if the price holds support.
This strategy leverages the current bullish trend while accounting for retracement risks.