As you can see, BANANAS31 has been showing some serious upward momentum, currently trading at $0.008030 with a massive +22.24% gain today! The 24h high was $0.008412, and it looks like there's strong buying pressure with a healthy 24h volume of 21.39M USDT.
The chart shows a nice uptrend with the price well above its MA(7), MA(25), and MA(99) lines โ a potentially bullish
๐ Immediate Resistance: The recent 24-hour high around $0.008412 is the immediate hurdle. A strong breakout above this with volume could signal further upside. We also see a peak on the chart near $0.008600 which could act as the next resistance.
๐ก๏ธ Key Support Levels:
The MA(7) at $0.007955 is acting as immediate dynamic support.
A stronger support zone could be around the MA(25) at $0.007549 or the previous consolidation area between $0.007250 - $0.007000. These levels could be interesting for potential entries on a pullback.
๐ฏ Potential Entry Point:
Option A (Breakout Play): If BANANAS31 can convincingly break and hold above the $0.008412 - $0.008500 resistance zone with good volume, it could confirm continuation.
Option B (Pullback Play): Consider an entry on a retrace towards the $0.007500 - $0.007800 area (around MA(25) or the top of the previous breakout zone), if it shows signs of finding support there.
๐ Take Profit (TP) Targets:
TP1: Around $0.008500 - $0.008800 (just above the immediate resistance).
TP2: If momentum continues strong, potentially targeting psychological levels like $0.009000 or even $0.010000 if it enters price discovery.
โ Stop Loss (SL) Placement:
For a Breakout Entry: Place your stop loss just below the breakout level or beneath the immediate short-term support, e.g., $0.007900 - $0.007700.
For a Pullback Entry: Place your stop loss below the key support level where you entered, for example, below the MA(25) at $0.007450 or even lower around $0.006900 to account for volatility.
What are your thoughts on BANANAS31? Are we going to see new highs? Or is a consolidation in the cards?
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