Buy Signal $ONDO /USDT
Based on the above analysis, I suggest a buy signal with the following conditions:
1. Entry Point:
• Buy at current price ($0.8938): If you believe that the bullish momentum is still strong and the price may continue towards $0.9360.
• Buy on pullback ($0.8394): If the price corrects to the support level of $0.8394 and shows signs of bouncing back (e.g. strong bullish candle with high volume).
2. Take Profit Target:
• Target 1: $0.9360 (the nearest resistance level).
• Target 2: $0.9848 (higher if the price breaks $0.9360).
3. Stop Loss:
• Place a stop loss at $0.7912 (below the support level of $0.8394) to protect capital in case the price reverses.
4. Risk/Reward Ratio:
• If you buy at $0.8938, stop loss at $0.791 is calculated as follows:
• Risk: $0.8938 - $0.7912 = $0.1026.
• Profit (target 1): $0.9360 - $0.8938 = $0.0422.
• Risk/Reward Ratio: $0.0422 / $0.1026 ≈ 0.41 (not ideal, but acceptable if you expect the price to go above $0.9360).
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