Trading Analysis for $THE /USDT (30m)
Current Price: $1.2446 (+0.20%)
Technical Overview:
$THE /USDT is exhibiting a recovery phase after testing lower levels. With higher volatility, the price has entered a consolidation zone, creating opportunities around key support and resistance levels.
Targets:
1. Target 1 (Support): $1.2200
A key support zone that could act as a base for a bullish reversal.
2. Target 2 (Resistance): $1.2600
Immediate resistance level; a break above this level could lead to further upward momentum.
3. Target 3 (Breakout Zone): $1.2950
A breakout above this level could signal strong bullish continuation toward new highs.
Action Plan:
Long Positions: Enter near $1.2200 with a target of $1.2600 for partial profit-taking and $1.2950 for a full exit.
Short Positions: Consider entries near $1.2600 or $1.2950 if rejection occurs, targeting $1.2200.
Risk Management: Use stop-losses below $1.2100 for long trades and above $1.3000 for short trades.