đ„ SMC Signal Alert: INJ/USDT đ„
đ Trade Setup:
Current Price: $17.15
24H Change: +0.08%
Timeframe: 1H
đ Technical Analysis:
Support Level: $16.72
Resistance Level: $17.60
24H High: $17.60
24H Low: $16.72
đ Predicted Direction: Bearish
Analysis:
The current price sits near the midpoint of the 24-hour range.
RSI values (K: 29.93, D: 31.71) suggest an oversold condition, which can signal a possible short-term correction or reversal downwards.
Volumes show significant activity, potentially leading to higher volatility.
đ Strategy:
Short Entry: Consider a short position around $17.15, targeting the support level of $16.72.
Stop Loss: Place a stop above the recent resistance at $17.60.
đŒ Strategy Details:
The oversold RSI and price struggling to break above resistance may indicate potential for a pullback towards the support level.
Traders should watch for price action to confirm the short position below $17.00.
â ïž Risk Management:
Proper position sizing and tight risk management are crucial in this volatile environment.
đ Monitor price action closely!
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