$STRAX /USDT Analysis
Trend:
The pair is in a bullish trend but showing signs of losing momentum after reaching a recent high of $0.09280.
Support Levels:
• $0.08516: Current retracement level.
• $0.07744: Major support zone.
Resistance Levels:
• $0.09280: Recent high acting as resistance.
• $0.10: Psychological resistance, which could be the next key level to watch.
Indicators:
• RSI: Slightly overbought, suggesting caution for further upside.
• MACD: Positive, but momentum appears to be slowing down.
• Volume: Increased significantly during the rally but has been declining, indicating a potential cooldown.
Outlook:
While the bullish trend remains intact, a consolidation phase or minor pullback is likely in the near term. Traders should wait for a confirmed breakout above $0.09280 for further upside or a breakdown below $0.08516 to reassess positions.
