XMRUSDT is currently in an upward trend, but several key points need to be noted to assess the upcoming movement:
1. 15-minute and 1-hour candlestick charts
• The 15-minute chart shows a strong short-term rise with consecutive bullish candles, and the MACD is also in an upward state, but the red bars are gradually shortening, which may indicate weakening short-term momentum.
• From the 1-hour chart, the price has rebounded significantly from around 227.51, and the MACD has turned bullish, but it is approaching the previous high of 236.78, which may face short-term resistance.
2. Key support and resistance
• Resistance level: 236.78 (highest point in 24 hours), if broken, it may push towards around 240.
• Support levels:
• Short-term support: 233.40 (previous small pullback low from the 15-minute candlestick)
• Further support: 230.10 (previous low from an hour ago during a consolidation)
• If it breaks below 230, it may retest around 227.50 (previous low).
3. Possible movements
• If the price firmly stands above 236.78 and continues to break out with increased volume, consider going long, targeting 240-243.
• If it faces pressure around 236-237, it may pull back to the 233-230 area, and if support is weak, it may further decline to 227.
Trading strategy suggestion (combine with your breakout strategy):
• Going long: Enter after breaking 236.78 and standing firm, with a stop loss set below 233.40, target 240-243.
• Going short: If there is clear pressure around 236-237, you can attempt a short position, targeting 233-230, with a stop loss set above 237.50.