technical analysis and trade signal for $FXS /USDT:
Current Price: $4.1 (up +22.85%)
24h High: $4.396
24h Low: $3.293
24h Volume (FXS): 13.16M
24h Volume (USDT): 51.97M
Technical Overview:
RSI: 70 (Currently in the overbought zone, indicating potential for a pullback)
MACD: Bullish crossover, indicating upward momentum
Support Levels:
$3.293 (Strong support at 24h low
$3.50 (Minor support based on previous price action)
Resistance Levels:
$4.396 (24h high, strong resistance point)
$4.50 (Psychological level and previous price resistance)
Trade Signal:
Buy Entry: If the price retraces to around $3.50 to $3.80, this could present a good opportunity to buy at a discount before a potential upward movement.
Sell Targets:
1. Target 1: $4.30 – First resistance level, lock in profits here.
2. Target 2: $4.50 – Stronger resistance, set your stop-loss or take partial profits.
3. Target 3: $4.70 – If momentum continues, consider aiming for this level.
Stop-Loss: Below $3.30 to minimize risk in case of a deeper correction.
Trade Momentum:
Bullish Momentum: The MACD and recent price action indicate a strong bullish trend. The RSI is approaching overbought, so there might be a minor correction before continuing upward.
Watch for Breakouts: If FXS breaks through the $4.396 level with volume, expect a surge toward $4.50 and possibly higher.
Summary:
Buy Zone: $3.50 - $3.80
Target Levels: $4.30, $4.50, $4.70
Stop-Loss: $3.30
Momentum: Bullish, but be cautious of a minor pullback before the next leg up.