šØ $CITY /USDT TRADING ALERT: BREAKOUT OR BREAKDOWN ON THE HORIZON? šØ
The $CITY /USDT chart on the 15-minute timeframe is shaping up for a significant move! Currently, the price is trading within an ascending channel, finding support around the $2.125 level and facing resistance at $2.261. Traders should watch these critical levels closely for any breakout or breakdown.
š Current Price: $2.235 USDT
š” Key Levels to Watch:
ā¢ Resistance Zone: $2.261 USDT ā A breakout above this level could spark a bullish rally, pushing the price toward higher targets in the short term.
ā¢ Support Level: $2.125 USDT ā This area is vital. A drop below this could signal a bearish reversal, leading to further declines.
š Long Entry Strategy: Enter above $2.261 with a target of $2.28 (short term) and $2.33 (long term). Stop Loss: Set at $2.22 to manage risk effectively.
š Short Entry Strategy: If price fails at $2.261 and moves downward, consider a short entry near $2.21, aiming for $2.18 as the initial target. Stop Loss: Place at $2.27.
š Trading Insights: Watch for volume increases at these levels; they often indicate stronger moves. Manage risk with stop losses, as the price is positioned for a potentially sharp breakout or breakdown.
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