Potential Strategy:
Long or Short:
Based on the current momentum and moving averages, the market appears bullish. Entering a long position could be a better option at this moment. However, the sharp rise means the asset could also experience a correction, so risk management is essential.
Where to Buy:
If you're considering a long position, a potential buying zone could be around 0.00200 or 0.00205. If the price corrects back to the MA10 (0.00179), it could serve as another possible entry point.
Take Profit:
The next resistance level is around 0.00218 (the 24h high). You could set the first take-profit target there.A more aggressive target could be slightly above this, around 0.00220 or 0.00225, if the bullish momentum continues.
Stop Loss:
Consider setting a stop loss below 0.00190 or near the MA5 level for risk management. If it drops below that, it could indicate the bullish trend is weakening.
