$FXS / USDT โ€“ Minor Consolidation After Bullish Move โ€“ Ready for Another Push? ๐Ÿค”๐Ÿ“ˆ

$FXS / USDT is currently trading at $2.117, showing a positive change of +1.10% today. Looking at the 4-hour chart, we can see a strong upward trend with a recent consolidation phase just below the $2.15 resistance level.

๐Ÿง Potential Trading Scenarios:

* Resistance Level: The $2.15 zone (24-hour high) is acting as immediate resistance. A break above this level could signal further bullish momentum.

* Support Level: The $2.10 area appears to be providing short-term support during this consolidation.

* Bullish Momentum: The overall trend suggests continued buying interest after a period of accumulation.

๐Ÿ“ˆ Potential Long Entry (On Breakout or Support Hold):

* Breakout: Consider entering long if the price breaks decisively above $2.15 with increasing volume, targeting higher resistance levels (e.g., $2.20 or beyond). Place a stop loss below the breakout point.

* Support Hold: If the price consolidates above $2.10, a long entry with a stop loss below this support could target a retest and potential break of the $2.15 resistance.

๐Ÿ“‰ Potential Short Entry (If Resistance Holds): If the price rejects the $2.15 resistance again with strong bearish momentum, a short entry targeting the $2.10 support could be considered. A break below $2.10 might lead to a deeper correction.

โš ๏ธ Outlook:

$FXS / USDT is showing bullish signs with consolidation near resistance after a strong upward move. The likelihood of a breakout above $2.15 seems plausible. Monitor volume and price action closely for confirmation. Always manage your risk effectively.

FXSUSDT ยท Binance

2.117 +0.008 (+0.38%) (based on the last 4 hours)

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