Looking at the chart, the following analysis can be made:
$THE (DYOR NFA⚠️)
1. Trend: This is a 4-hour timeframe chart, and the price has recovered from the low of 1.0623. Currently, the price is at 1.6616, showing bullish momentum.
2. Resistance and Support:
Resistance: Around 1.8200 (24-hour high).
Support: Around 1.4205 (24-hour low).
3. Indicators:
STOCH RSI: It is around 57.07 and 71.31, indicating a neutral-to-overbought zone. The price may rise in the short term but could pull back if it becomes overbought.
Volume: The 24-hour trading volume is quite strong, indicating good liquidity.
4. Risk Analysis:
7-day performance: +36.09% (bullish sign).
30-day performance: -45.60% (indicating a downtrend).
Signal:
If the price breaks the resistance at 1.8200, it has the potential to move higher (breakout signal).
If the price falls below 1.4200, it could be a bearish signal (setting a stop loss is essential).
Investment Suggestion:
Short-term trade: If the bullish momentum seems strong, you can consider buying, but set a stop loss around 1.55.
Long-term: The overall trend of the chart is still unclear, so only invest a small amount and manage the risk carefully.