Based on the $STRAX /USDT 1-hour chart shown:
1. Trend Overview: The price is currently in an uptrend, trading at $0.09258 with a 23.57% gain in 24 hours. The 24-hour high is $0.09900, and the low is $0.07262, indicating strong bullish momentum.
2. Potential Long Entry: If the price sustains above $0.09200 and breaks $0.09500 with strong volume, consider a long position.
Target 1: $0.09900 (24-hour high).
Target 2: $0.10500 (psychological resistance).
Stop Loss: Place a stop loss at $0.08900 to manage risk.
3. Potential Short Entry: If the price fails to hold above $0.09200 and drops below $0.08900, a short position could be considered.
Target 1: $0.08500 (recent support).
Target 2: $0.08000.
Stop Loss: Place a stop loss at $0.09300.
4. Indicators: Monitor volume and key resistance at $0.09500. A breakout or rejection at this level will confirm direction. The price is currently near a consolidation zone, so patience is required for confirmation.
Always use proper risk management, as the market is volatile. Adjust targets and stops as per market conditions.
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