$WIF
Technical Analysis for WIF/USDT – Strong Bullish Opportunity?
Current Price: 0.641
Daily Change Percentage: +13.45%
24-Hour Trading Range: from 0.532 to 0.648
Analytical Overview:
Bounce from 0.304: The currency experienced a strong rise from its low of 0.304 reaching up to 0.721, then began a healthy correction.
Moving Above Moving Averages:
EMA7 = 0.591, EMA25 = 0.549, EMA99 = 0.743, reflecting strong bullish momentum.
The price is currently moving between EMA7 and EMA25, which may indicate the beginning of a consolidation period before further upward movement.
RSI at 69.19: Approaching the overbought zone, indicating that a correction may happen anytime soon.
MACD: Shows a positive crossover but is close to the zero level, reinforcing the upward momentum but needs monitoring.
Proposed Strategy: "Riding the Upward Wave"
Conditional Entry: If the price closes above 0.650 with a strong candle.
First Target: 0.720
Second Target: 0.750
Stop Loss: Break below 0.595 with a close under this level.
Important Note
Considering the current RSI level, it is preferable to confirm the continuation of the upward momentum or wait for a small correction before re-entering.