Achievement of Risk-Reward Ratio 1:2 in STMX Analysis $STMX | 6thTrade na Binance Square

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Achievement of Risk-Reward Ratio 1:2 in STMX Analysis
$STMX 
The recent analysis of #STMX/USDT  on the 4-hour timeframe, conducted on July 23, highlighted a bullish trend with the price trading above the 200-period SMA at $0.004947 and VWAP at $0.005680, indicating strong upward momentum. With RSI nearing overbought territory at 68.78 and positive MACD, the potential for further gains was anticipated. The analysis also identified key support levels at $0.0050 and $0.0047, with resistance at $0.0068 and $0.0075. 
 
The latest chart confirms the success of this analysis, with STMX reaching and surpassing the resistance level of $0.0075, achieving the expected risk-reward ratio of 1:2. 
Congratulations to traders who have benefited from this and successfully navigated the market conditions!
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves substantial risk, and you should only trade with caution

#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024  #ChartAnalysis #6thTrade 

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$STMX Technical Analysis Overview

In the 4-hour timeframe, #Stmxusdt demonstrates a bullish trend, with the price trading above the 200-period SMA at $0.004947 and the VWAP at $0.005680, indicating strong upward momentum. The RSI is nearing overbought territory at 68.78, while the MACD shows positive momentum. On the daily chart, the bullish trend continues, with the price above the VWAP but below the 200-period SMA at $0.007689.

The RSI at 64.18 and positive MACD suggest potential for further gains. Bollinger Bands on the 4-hour chart show the price nearing the upper band, indicating increased buying pressure.

Key Fibonacci retracement support levels are identified at $0.0050 and $0.0047, with resistance at $0.0068 and $0.0075. Monitoring for pullbacks to these support levels could provide potential entry points, while observing RSI and MACD for overbought conditions and bullish crossovers is advised.

Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice. Trading cryptocurrencies involves high risk and may not be suitable for all investors. Always conduct your own research and consult with a professional financial advisor.

#ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #ChartAnalysis #6thTrade

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