Technical Analysis — BANANA/USDT (1H Chart
Current Price:** 19.34 USDT
24h Range:** 16.04 – 20.19 USDT
24h Change:** +15.53% Volume:** 862,767.55 BANANA
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Chart Analysis:**
1. **Strong Recovery Rally:**
After a dip to 16.04, the price surged rapidly, indicating strong bullish momentum and likely short covering.
2. **Resistance Levels:**
- Immediate resistance: 20.19 (24h high)
- Psychological barrier: 20.50–21.00 range
3. **Support Levels:**
- Immediate support at 18.50 (previous breakout zone)
- Stronger support at 17.00–17.20 range
4. **Order Book Sentiment:**
- 68.57% buyers, showing a bullish bias.
- Highest bid clusters around 19.31–19.32, indicating demand below the current price.
5. **Trend Structure:**
- Price has broken out from a sideways consolidation zone (16.5–17.5) with a strong bullish candle.
- RSI or volume indicators are not visible, but price action signals a breakout move.
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### **Trade Setup Suggestion:**
**For Long:**
- Entry:
- On pullback at 18.80–19.00
- Or breakout confirmation above 20.20 with volume
- Stop-Loss:
- Below 18.20 (under breakout structure)
- Targets:
- TP1: 20.20
- TP2: 21.00
- TP3 (if momentum continues): 22.50
**For Short (if bearish reversal signs appear):**
- Entry:
- Near resistance zone (20.00–20.20) if price rejection occurs
- Stop-Loss:
- Above 20.50
- Target:
- TP1: 19.00
- TP2: 18.50
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> **Pro Tip:** Keep an eye on BTC and ETH price action, as BANANA/USDT may correlate with broader crypto sentiment.
Would you like me to give a lower timeframe (15m) or higher timeframe (4h/daily) analysis too?#FedWatch #VoteToListOnBinance #RippleVictory #ETHBreaks2k