First of all follow me
1. General trend:
- We notice a significant increase in the price by +15.22%, which indicates that there is strong buying momentum at the moment.
- Japanese candlesticks show a continuous upward movement after a short corrective phase, which shows that the price is trying to regain higher levels.
2. Support and resistance levels:
- Main Support: Located at 0.00001859 USDT based on the lowest level recorded on the chart.
- Main Resistance: Located at 0.00001976 USDT based on the highest level reached in the last 24 hours.
3. Technical indicators:
- RSI (6): Current value 67.74, indicating that the market is close to overbought areas, but not yet there (the area above 70 is considered overbought). This means that there is a possibility of continued upward movement in the short term before any correction occurs.
- Stochastic (Stoch) indicator: The current value of K (64.50) and D (59.81) indicates that the price is in an upward movement and continues the buying momentum. The crossing of K above D is a positive signal for further upside.
4. Proposing deals:
- Buy deal:
- Entry point: If the price can stay above the current resistance level of 0.00001954 USDT and surpass 0.00001976 USDT, a buy trade can be opened to exploit the momentum.
- Targets: The first target can be set at 0.00002000 USDT and the second target at 0.00002050 USDT.
- Stop Loss: Stop loss can be set below the support level 0.00001896 USDT to reduce risks.
- Sell deal:
- Entry point: If the price fails to hold the 0.00001954 USDT level and starts to decline, a sell trade can be opened when the support at 0.00001896 USDT is broken.
- Targets: First target at 0.00001859 USDT and second target at 0.00001800 USDT.
- Stop Loss: Stop loss can be set above 0.00001976 USDT to avoid any sudden upward movement.
Very important: The market is currently in an upward trend with strong buying momentum. If the price continues to break the resistance levels, it may be a good opportunity to enter a buy trade, while monitoring the overbought indicators for a possible correction in the near future.
