đĽ
$FORTH /USDT Testing Resistance After a +7.79% Rally!đĽ
đCurrent Price: 2.698 USDT (+7.79%)
đ24-Hour High: 2.773 USDT (Key resistance level)
đ24-Hour Low: 2.479 USDT (Critical support zone)
Volume (24H):
đFORTH: 1.06M
đUSDT: 2.75M
âĄFORTH has shown strong bullish momentum, reaching close to the 24-hour high, supported by trading volume. The chart displays signs of consolidation near the resistance level, indicating potential for either continuation or pullback.
âĄTechnical Insights đ§Š
1. Trendline: The upward trend starting from 2.313 USDT highlights ongoing bullish sentiment
2. RSI: Likely approaching overbought territoryâmonitor for slowing momentum or divergence
3. MACD: Bullish crossover confirmed, aligning with the uptrend.
4. Bollinger Bands: Widened, reflecting increased volatility and possible breakout scenarios.
âĄTrading Setup đ
âĄBullish Scenario
Type: Breakout Trade
đEntry Point: Above 2.700 USDT (confirmed breakout with strong volume)
đTake-Profit Targets:
đŻTP1 (1:1): 2.750 USDT
đŻTP2 (1:2): 2.800 USDT
đ˘Stop Loss: Below 2.650 USDT
đď¸Bearish Scenario
Type: Pullback Trade
đEntry Point: Below 2.650 USDT (confirmed rejection at resistance)
đTake-Profit Targets:
đŻTP1 (1:1): 2.600 USDT
đŻTP2 (1:2): 2.550 USDT
đ˘Stop Loss: Above 2.675 USDT
âĄRisk Management Strategy â ď¸
For Bullish Setup, after hitting TP1 (2.750 USDT):
Move Stop Loss to Breakeven (Entry Price)
Secure partial profits (around 50% trade quantity), allowing room for extended gains
For Bearish Setup, adjust Stop Loss to Entry upon reaching TP1 (2.600 USDT) to minimize risk and lock in gains
âĄKey Notes âď¸
1. Volume Confirmation: Validate breakout or pullback moves with increased trading activity to avoid false signals.
2. Monitor the 2.773 USDT resistance zone closelyâfailure to breach might lead to extended consolidation or potential pullback.
Disclaimer:
#DYOR* Buy Or Trade With Me On
$FORTH #BinanceAlphaAlert #BTCvsMarkets #dinnerwithtrump #FORTH