Technical Analysis: SLF/USDT Pair - Key Targets for Traders šÆ
The SLF/USDT pair has seen a notable upward momentum over the last 24 hours, gaining +16.01% with the current price at 0.4492 USDT. Letās dive into the technical analysis to explore potential price targets for the coming days.
Current Market Overview:
24h High: 0.5660 USDT
24h Low: 0.3633 USDT
24h Volume (SLF): 70.04M
24h Volume (USDT): 32.93M
The SLF price has experienced a strong bullish trend recently, and the SAR indicator suggests a potential resistance level at 0.5398 USDT. Now, letās look at the three key targets for traders to monitor:
šÆ Target 1: 0.5112 USDT
Reason: This level has shown consistent support and is a key psychological level. A break above this could signal further bullish momentum.
Risk: Watch for a price pullback here; if the price consolidates above 0.5112, it could push higher.
šÆ Target 2: 0.5660 USDT (24h High)
Reason: This is the immediate resistance level based on the recent 24-hour high. If SLF reaches this point, traders should look for potential breakout confirmation or reversal signs.
Risk: If the price struggles to break this level, a correction might occur, retesting lower support zones.
šÆ Target 3: 0.3928 USDT
Reason: This level is a potential support zone if the price starts to correct. A dip towards this area would provide an entry opportunity for long trades, provided strong support holds.
Risk: If this support fails, it may lead to further downward movement towards the 24h low of 0.3633 USDT.