$PDA Analysis of PDA/USDT Chart (1H Timeframe) & Trade Setup !
🔥 Key Levels Identified:
Support Level: Around $0.0261 - $0.0246 (recent 24h low and previous bounce area)
Resistance Level: Around $0.0289 - $0.0327 (recent high and strong rejection zone)
🔥 Indicators Considered:
MA(5) = 0.02684 (Short-term moving average)
MA(8) = 0.02688 (Slightly longer moving average)
The price is currently at $0.02676, slightly below both moving averages, showing consolidation but with a potential bullish structure.
🔥 Market Structure Observations:
1. Previous Breakout & Retracement: The price had a strong breakout to $0.0327, followed by a retracement to $0.0261, and now consolidating.
2. Higher Low Formation: The price has formed a higher low near $0.0261, indicating possible bullish continuation.
3. Small Green Candles & Sideways Action: The price is stabilizing after a pullback, showing signs of accumulation.
🎯 Final Trading Decision: Take a Long Position
Entry Price: $0.0265 - $0.0270
Target (TP1): $0.0285
Stop Loss (SL): $0.0255
✅ Reasoning for Long Position:
The price is stabilizing above support and showing signs of accumulation.
Previous strong pump suggests potential for another upward move.
Risk-to-reward ratio favors a long position, as the downside is limited while upside potential is towards $0.0285 - $0.030.
Moving averages are converging, which may trigger a bullish crossover.
✅ Trade Execution Suggestion:
1. Enter long around $0.0265 - $0.0270.
2. Set stop loss at $0.0255 to minimize risk.
3. Take profit at $0.0285, aligning with the previous minor resistance level.
👀 This setup suggests a bullish move, but watch for volume confirmation before entry.
⚠️ Disclaimer !
This is just educational purpose only always take final decision base on your own research because crypto market is inherited risky & highly Volatile .
#PDA