This chart shows the $DEXE /USDT pair on the 4-hour timeframe, with the current price at $8.462, reflecting a +2.86% increase. After a period of consolidation around the $8.0-$8.4 range, the price is attempting to break above resistance.
Analysis:
1. Trend Assessment: The chart suggests a sideways trend with potential for an upward breakout given the recent bullish movement.
2. Entry for Long: If the price breaks and sustains above $8.50 with volume, consider entering a long position.
Target: $8.90 (short-term), $9.50 (medium-term).
Stop Loss: $8.20 to protect against a false breakout.
3. Entry for Short: If the price fails to sustain above $8.50 and shows bearish momentum, consider entering a short position.
Target: $8.00 (short-term), $7.70 (medium-term).
Stop Loss: $8.60 to minimize risk.
Key Levels:
Resistance: $8.50 and $9.00.
Support: $8.00 and $7.70.
Wait for confirmation of a breakout or rejection before taking action. Proper risk management is critical, with position sizing based on your risk tolerance.
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