Here's a technical analysis post for $SPELL/USDT on Binance, including information about three potential targets:
🔍 Technical Analysis: $SPELL
/USDT
Current Price: $0.0007589
24h Change: +1.15%
Analysis Overview: SPELL/USDT has shown steady upward movement over the past 24 hours, currently trading at $0.0007589. The market is exhibiting bullish momentum, with a slight increase of 2.11% in the last day, signaling potential for further upside. Let’s break down the key levels and potential targets for traders.
📊 Key Support & Resistance Levels:
Support Level: $0.0007235
This price point represents a strong support level, where buyers have historically stepped in to prevent further declines. If the price drops to this level, it could present a buying opportunity as it aligns with previous market lows.
Resistance Level 1: $0.0007697
The 24h high of $0.0007697 serves as the immediate resistance. If the price breaks above this level, we could see a test of higher targets. Watch this level closely for potential bullish confirmation.
Target 1 - $0.0007800 (Short-term Target):
A close look at the recent price action suggests that $0.0007800 could be a likely short-term target. This level has been touched briefly in previous upswings, and a break above it could confirm continued bullish sentiment.
Target 2 - $0.0008000 (Mid-term Target):
A break past the first target could lead the price towards $0.0008000, a round psychological resistance that has historically acted as a barrier. This is a critical point for traders looking for a continuation of the uptrend.
Target 3 - $0.0008500 (Long-term Target):
As the price moves higher, $0.0008500 becomes the next major resistance zone. A sustained push above this could signal a larger bullish breakout, pushing SPELL/USDT into a more significant uptrend.