The chart of the pair $CITY /USDT on the 15-minute timeframe is showing important signals of a notable movement. Currently, the price is trading within an upward channel, seeking support around $2.178, while facing resistance at $2.261. Traders should closely monitor these key price levels to determine if this currency pair is likely to break out upwards or continue to decline further.
📊 Current Price: $2.235 USDT
💡 Important Levels to Monitor
1. Resistance Area:
$2.261 USDT – If the price surpasses this resistance level, it could trigger a strong bullish rally, paving the way for prices to reach higher targets in the short term. This breakout may create opportunities for swing traders.
2. Key Support Level:
$2.125 USDT – This is a very important support level that helps determine the market trend. If the price drops below this threshold, it may signal a bearish reversal, leading to a stronger declining trend.
📈 Buy Trading Strategy
Entry Point: Consider entering a position when the price breaks above $2.261 with a target of $2.28 (short-term) and $2.33 (long-term).
Stop Loss Point: Set a stop loss order at $2.22 to manage risk effectively.
📉 Sell Trading Strategy
Entry Point: If the price cannot maintain above $2.261 and shows signs of decreasing, consider entering a sell position near $2.21, with an initial target of $2.18.
Stop Loss Point: Set a stop loss order at $2.27 to protect your position.
🚀 Important Trading Insights
Watch for an increase in trading volume at these price levels; volume often indicates stronger movements that may occur. At the same time, managing risk through stop loss orders is essential, as the price is currently at a potential position for either a breakout or a sudden decline.
