technical analysis and trade signal for $QUICK /USDT:🔥🔥🔥🔥
Current Price: 0.05050 USDT
24h High: 0.05616 USDT
24h Low: 0.04988 USDT
SAR (Stop and Reverse): 0.05072 USDT
Trend Overview:
The price is currently in a downtrend with a 8.50% decrease in the last 24 hours.
Support: 0.04988 USDT (24h Low) – This level has held up during the recent pullback.
Resistance: 0.05616 USDT (24h High) – A significant resistance level to monitor for potential bullish reversal.
Technical Indicators:
1. Moving Averages:
Short-Term MA (5-period): Below the price, indicating bearish momentum.
Medium-Term MA (20-period): Also below the price, confirming the downtrend.
Long-Term MA (50-period): Still above the price, which shows a larger bearish sentiment.
2. RSI (Relative Strength Index):
RSI is around 30, indicating that QUICK is potentially oversold and might see a correction soon.
3. MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, indicating bearish momentum in the short term.
4. Bollinger Bands:
Price is near the lower band, suggesting the asset could be oversold, but it may also continue to follow the downtrend.
Trade Signal:
Entry Point: 0.05050 USDT (Current Price)
Target Levels:
Target 1: 0.05300 USDT (first resistance level) – This level aligns with recent retracements.
Target 2: 0.05500 USDT (major resistance) – A level to watch if a reversal occurs.
Target 3: 0.05600 USDT (24h High) – The ultimate target for a strong bullish momentum.
Stop Loss:
Stop Loss: Set at 0.04950 USDT (slightly below the support level) to minimize risk if the downtrend continues.
Trade Momentum:
Bearish Momentum in the short term, with the price showing negative movement over the last 24 hours.
Potential for a Short-Term Reversal: Given the oversold RSI and the price near the lower Bollinger Band, a reversal toward the upside is possible.
Watch for Breakouts: A break above 0.05300 USDT could signal bullish momentum towards the higher targets.