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$HMSTR Next target after hitting 0.005$:
For determining the next target after hitting 0.005, we can consider technical resistance levels and analyze potential price areas where sellers might step in.
Potential Targets and Resistance Levels
1. Immediate Resistance Level: The price already reached a high of 0.005784, suggesting resistance around 0.0058. If the bullish momentum continues, breaking this level might allow the price to test higher targets.
2. Fibonacci Extension Levels: Using a Fibonacci extension from a recent low to high move can help project potential targets beyond 0.005. Common levels are:
1.272 extension (beyond 0.005): This could place the next target around 0.0060–0.0062.
1.618 extension: A more aggressive target, potentially around 0.0065–0.0068 if the bullish momentum remains strong.
3. Psychological Levels: In trading, whole numbers often act as psychological resistance levels. After 0.005, levels like 0.006 and 0.007 could serve as the next resistance points due to trader psychology.
4. Volume Confirmation: For any of these targets to be achieved, the volume needs to remain strong. If you notice volume weakening, it could indicate a slowdown and potential reversal.
Summary
Next Target Range: 0.0060–0.0062 (1.272 Fibonacci Extension) with possible extensions to 0.0065–0.0068 if momentum continues.
Psychological Resistance: 0.006 and 0.007.
#BIOProtocol #EthereumRally
For determining the next target after hitting 0.005, we can consider technical resistance levels and analyze potential price areas where sellers might step in.
Potential Targets and Resistance Levels
1. Immediate Resistance Level: The price already reached a high of 0.005784, suggesting resistance around 0.0058. If the bullish momentum continues, breaking this level might allow the price to test higher targets.
2. Fibonacci Extension Levels: Using a Fibonacci extension from a recent low to high move can help project potential targets beyond 0.005. Common levels are:
1.272 extension (beyond 0.005): This could place the next target around 0.0060–0.0062.
1.618 extension: A more aggressive target, potentially around 0.0065–0.0068 if the bullish momentum remains strong.
3. Psychological Levels: In trading, whole numbers often act as psychological resistance levels. After 0.005, levels like 0.006 and 0.007 could serve as the next resistance points due to trader psychology.
4. Volume Confirmation: For any of these targets to be achieved, the volume needs to remain strong. If you notice volume weakening, it could indicate a slowdown and potential reversal.
Summary
Next Target Range: 0.0060–0.0062 (1.272 Fibonacci Extension) with possible extensions to 0.0065–0.0068 if momentum continues.
Psychological Resistance: 0.006 and 0.007.
#BIOProtocol #EthereumRally
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
HMSTR
0.00439
+11.59%
Replies 0
