#TUT -*Trading Setup🛬
· Current Price: $0.06839 USDT🎗️
· Recent High: $0.07607 (This is the Upper Bollinger Band, which has been acting as resistance)👆
· Recent Low: $0.05082 (The low of the recent volatility range)⚒️
· Entry: $0.06750 - $0.06800 (A short entry on a slight pullback towards the current price level)🎉
· Stop Loss: $0.06950 (Just above the Upper Bollinger Band level of 0.06898 to account for spreads and minor wicks)🚫
· Target 1: $0.06220 (The Middle Bollinger Band - MB)🎯
· Target 2: $0.05540 (The Lower Bollinger Band - DN)🎯
Risk/Reward Ratio (to Target 2): ~1:3.7 (A very favorable ratio)🚫
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Technical Analysis
The market structure for TUT/USDT is bearish in the short term.
1. Price Position: The current price (0.06839) is trading below the Middle Bollinger Band (0.06218). This indicates the short-term trend is bearish. The price is also much closer to the Upper Band than the Middle, suggesting it's overextended to the upside and a reversion towards the mean (the middle band) is likely.
2. Momentum (MACD): The MACD is positive but declining.
· DIF (0.00157) > DEA (0.00073): This creates a positive MACD histogram bar (0.00083), which typically indicates bullish momentum.
· Key Interpretation: However, the value of the histogram is very small. This often signals that the current bullish momentum is weakening and could be nearing a crossover into bearish territory. It suggests the prior upward move is losing steam.
3. Volatility (Bollinger Bands):
· The bands are relatively wide, indicating high volatility.
· The price has recently touched the upper band (UP: 0.06898) and been rejected, which is a classic signal for a potential pullback or reversal downward towards the middle or lower band.
4. Volume: Significant 24h volume (255M) confirms there is interest in this asset, but the current price action suggests selling pressure is overcoming buying pressure at these higher levels.
Summary (TA Perspective): The price is showing signs of a bearish rejection at a key resistance level (the Upper Bollinger Band). While the MACD is still positive, its weakening momentum suggests the bullish trend is exhausted. The high volatility increases the probability of a sharp move down towards the middle band support.
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Indicator Summary
· Bollinger Bands (20, 2):
· Upper Band (UP): 0.06898 (Resistance)
· Middle Band (MB): 0.06218 (Primary Target / Support)
· Lower Band (DN): 0.05539 (Secondary Target / Strong Support)
· MACD Indicator:
· DIF: 0.00157
· DEA: 0.00073
· MACD (Histogram): 0.00083 (Positive but weak, signaling momentum is fading).
#TUT