£SANTOS/USDT at a Turning Point – Short Opportunity for Savvy Traders
After an impressive 94.25% surge, $SANTOS has soared to a recent peak of £8.32 USDT within just 24 hours. This sharp rise suggests it may be in an overbought zone, creating a potential opportunity for a strategic short trade if momentum starts to wane.
Current Price: £6.358 USDT
### Key Levels to Monitor:
- Resistance Zone: £8.32 USDT
This recent peak could act as a strong resistance. If $SANTOS approaches this zone but fails to push higher, it may indicate a good entry point for a short position.
- Support Zone: £5.00 USDT
A drop toward this support level, and especially a break below it, could signal further downside, enhancing potential profits from a short trade.
Ideal Short Entry:
Consider a short position in the range of £6.35 - £6.65 USDT. Signs of weakening momentum, such as a failure to retest the recent high, would strengthen the case for this trade.
Risk Management Tip:
Set a stop-loss just above the £8.32 USDT resistance level to protect against a renewed bullish move.
