$FXS / USDT – Pullback After a Strong Run! 🏃♂️
$FXS is currently trading at $2.616, showing a solid gain of +7.83% for the day. However, the 4-hour chart indicates a recent pullback after testing the $2.70 level.
Potential Scenario:
Observation: $FXS has experienced a strong upward trend but is now facing some selling pressure after hitting resistance. This pullback could be a temporary correction before another potential move up, or it could signal a deeper retracement.
Possible Trade Considerations (Watch for Support):
Entry: Consider potential entries if the price finds support around the $2.55 - $2.60 level and shows signs of bouncing back up with increasing volume.
Target 1 (if bounce): $2.68
Target 2 (if bounce): $2.75 (retesting recent high)
Final Target (if bounce): $2.80+ (potential for new highs)
Stop Loss: Place a stop-loss below the potential support level, perhaps around $2.50, to manage risk.
Key Observation: Monitor the $2.55 - $2.60 area for signs of support holding. If it breaks below this level, we might see a deeper correction.
Remember to conduct your own thorough analysis before making any trading decisions. Hope you're enjoying your Sunday evening too!
