SANTOS/USDT Technical Analysis | December 20, 2024

Current Price: $2.955 (-12.67%)

The SANTOS/USDT pair has experienced a notable decline, currently sitting at $2.955. Let’s analyze the key levels and possible movements for the near term.

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Key Support and Resistance Levels

Support Level (T1): $2.95
A critical support zone where a short-term reversal may occur. If the price stabilizes here, a bounce is possible.

Resistance Level (T2): $3.10
A significant resistance point. A breakout above this level could indicate the start of an upward trend.

Higher Resistance (T3): $3.25
If bullish momentum persists, this level is likely to be tested.

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Market Sentiment

24h Price Change: -11.91%

24h Volume: 2.91M (SANTOS), reflecting active trading interest.

The sharp drop in price alongside increased trading volume indicates heightened market activity, possibly driven by speculative or panic-driven trades.

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Trading Strategy

Entry Point: Watch for confirmation of support at $2.95.

Targets:

Target 1: $3.10

Target 2: $3.25

Waiting for a clear signal at the support zone before entering a trade is recommended. Traders aiming for short-term gains should closely monitor price action around resistance levels.

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