1-Hour (1H) Timeframe Analysis:
Current Price: The current price is around 555.05 USDT.
Support Levels:
549.8 USDT: This is the nearest support level, currently holding the price. A bounce from here could indicate a potential short-term uptrend.
532.85 USDT: A lower support level, about 3.78% below the current price. If the price breaks below 549.8 USDT, it might test this level.
498.42 USDT: A significant support level, 10% below the current price, which could be tested if the price drops significantly.
Resistance Levels:
575.9 USDT: The first major resistance level, about 3.99% above the current price. A break above this could lead to further gains.
593.69 USDT: The next resistance level, approximately 7.2% above the current price.
4-Hour (4H) Timeframe Analysis:
Support Levels:
549.8 USDT: This would be a critical level to watch on the 4H chart. Holding this level could signify a continuation of the bullish trend seen earlier.
532.85 USDT: If the price fails to hold the 549.8 USDT level, it could dip towards 532.85 USDT.
Resistance Levels:
575.9 USDT: The first key resistance level, breaking above this could lead to a retest of previous highs.
593.69 USDT: This would be the next level to target if the price breaks above 575.9 USDT.
Daily (1D) Timeframe Analysis:
The daily chart would provide a broader perspective on the overall trend and could help identify whether the current move is part of a larger trend.
Support Levels:
532.85 USDT: On the daily timeframe, this level becomes more significant as it may represent the neckline of a potential double-bottom pattern if the price rebounds.
498.42 USDT: This would be a critical support level on the daily chart, indicating a significant area where buyers might step in if the price declines further.
Resistance Levels:
575.9 USDT: This level would likely align with previous highs on the daily chart, making it a significant resistance level to break for further upside.
593.69 USDT: Breaking this level on the daily chart could signal a continuation of the bullish trend and lead to further gains.
Summary:
1H: Monitor the 549.8 USDT support level for a short-term bounce, with resistance at 575.9 USDT.
4H: Watch for the price to hold above 549.8 USDT for potential continuation towards 575.9 USDT. Below that, 532.85 USDT becomes crucial.
Daily: A break above 575.9 USDT could lead to a bullish continuation. A failure to hold above 549.8 USDT might see the price test lower support levels at 532.85 USDT or even 498.42 USDT.
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