🚨 $BANANA /USDT – Breakout Follow-Up or Trap? 🍌
Current Price: $22.74
📊 Daily Chart Insights (1D):
$BANANA just exploded past multiple moving averages, confirming a strong bullish breakout.
Price has closed above 20.06 (200 EMA) and now holding near 22.7, showing strength.
RSI (70.09) indicates it’s entering overbought territory, signaling potential temporary cooling or consolidation.
Key resistance ahead at $24.93 (possibly 300 EMA or major supply zone).
📉 1-Hour Chart Highlights (1H):
$BANANA Price attempted another push but faced quick rejection near $24, forming a short-term lower high.
RSI is flattening near 58, showing momentum cooling short-term.
Key support zone lies at $21.09 - $22.11. Bulls must defend this to maintain structure.
🧠 Pro Trade Strategy (Bullish Setup):
✅ Entry Zone:
Re-entry opportunity near $21.80 – $22.20 on retest of EMAs.
🎯 Targets:
TP1: $24.90
TP2: $26.80
TP3 (extension): $28.50+
🔐 Stop-Loss:
Below $20.00 (just under 200 EMA support on 1D)
⏳ Trade Duration:
Short- to mid-term (2–3 days holding window).
📌 Why Bullish?🤔🔥
Volume-backed breakout above resistance.
EMAs flipped bullishly (support from below).
RSI strong, but not extreme enough to invalidate further upside.
🧯 Caution:
If price closes below $20.00 on daily, invalidate this trade setup – watch for possible retracement to $18.76–$19.00.
💬 “Strong breakouts attract attention. Smart money waits for the retest. Impulse is not confirmation – structure is king.” 👑
📉 This is not financial advice. Trade based on your own analysis and risk profile.