---$STRAX
🔥 STRAX/USDT: Bullish Momentum Building – Major Breakout Ahead? 📈
The STRAX/USDT pair is showing strong bullish signals on the 4-hour chart, with a potential breakout in progress. Let’s analyze the key technical factors and what could happen next:
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1. Current Market Data
Price: $0.09009
Daily Change: +7.53%
24H High: $0.09900
24H Low: $0.07254
24H Volume: 418.45M STRAX
With STRAX already up by 15.83% in 24 hours, momentum is clearly in the bulls’ favor.
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2. Technical Analysis
a) Pattern: Ascending Triangle
The price action is forming a bullish ascending triangle pattern, which typically signals upward continuation.
Upper Resistance: $0.10000
Rising Trendline Support: Acting as a foundation for the current uptrend.
b) Key Support & Resistance Levels
Resistance Zone:
$0.10000 (Blue Zone): The breakout level to watch. A confirmed breakout could trigger a rally toward $0.11000 or higher.
Support Levels:
$0.08202 (Yellow Line): The first key support, holding the price within the triangle.
$0.07802 (Blue Line): A stronger support level, coinciding with the lower boundary of the triangle.
c) Moving Averages
50 EMA (Yellow): Acting as dynamic support for the recent price action.
200 EMA (Blue): Providing long-term support and signaling a healthy uptrend.
d) Volume Analysis
A significant spike in volume suggests strong participation from bulls, which is critical for confirming a breakout.
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3. What’s Next for STRAX?
Bullish Scenario:
If STRAX breaks above $0.10000 with strong volume, the next targets are:
$0.11000: The psychological and technical resistance level.
Beyond $0.11000: STRAX could enter price discovery mode, with extended targets.
Bearish Scenario:
Failure to break $0.10000 could lead to a retest of support levels at $0.08202 or $0.07802, which may provide new buying opportunities.
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4. Strategy for Traders
For Buyers:
Consider entering on a confirmed breakout above $0.10000, ideally with strong volume.
Alternatively, wait for a retracement to support zones around $0.08202 or $0.07802 for better risk-reward setups.
For Sellers:
Watch the $0.10000 resistance zone closely. Rejection at this level could provide short-term selling opportunities with targets at $0.08202.
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5. Conclusion
STRAX is currently at a critical juncture, with all eyes on the $0.10000 breakout level. With strong bullish momentum, volume confirmation, and a textbook ascending triangle pattern, the setup looks promising for further upside.
Stay vigilant and plan your trades carefully as STRAX approaches this major breakout point!
What’s your take on STRAX? Are you bullish or cautious? Share your views below!
#Crypto #STRAXUSDT #TechnicalAnalysis #Breakout #Trading
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