Technical Analysis:
The pair $HOT /USDT is currently trading at $0.001040, showing upside potential after the pullback. The chart highlights strong buying interest at key support levels, indicating a potential bullish trend in the short term.
Key Levels:
Resistance Levels:
- $0.001050: Significant resistance area where price movement may face selling pressure.
- $0.001060: Another major resistance level and potential target.
Support Levels:
- $0.001030: Strong support providing a solid base for upward movement.
- $0.001020: Lower support level in case of an unexpected price drop.
Trade Setup:
- Long entry: Enter at $0.001040 (current price) after confirming the pullback.
- Take Profit (TP):
- First target: $0.001050
- Second target: $0.001060
- Stop Loss (SL): Set it at $0.001020 to protect against downside risk.
Market Outlook:
$HOT/USDT pair shows signs of bullish momentum after rebounding from support at $0.001030. With the expectation that the price will challenge resistance at $0.001050, current market conditions favor long positions in the near term.
Risk Management:
Employ effective risk management by setting a stop loss at $0.001020 and keeping position sizes within comfortable limits to avoid overexposure.
