Here’s a detailed analysis of the $PROVE/USDT chart (1H timeframe):
📊 Chart Overview
Current Price: $1.2248
24h High: $1.9250
24h Low: $0.3000
24h Volume: 299M PROVE
🟢 Trend Analysis
Overall Trend: Very strong bullish trend with a sharp spike from $0.30 to $1.92 (over 6x in 1 day), followed by correction.
Volume: Extremely high volume confirms breakout strength but also shows signs of exhaustion now.
RSI (6): 60.67 – Still in the bullish zone but cooling off from overbought.
📌 Key Support Levels
1. $1.10 – $1.00 – Near-term support zone; consolidation area after the pump
2. $0.93 – $0.94 – Strong historical support (previous breakout level)
3. $0.57 – $0.60 – Key base before rally
📍 Key Resistance Levels
1. $1.29 – $1.31 – Local resistance (rejected 2 times)
2. $1.65 – $1.70 – Weak resistance before ATH
3. $1.92 – $2.00 – Strong psychological resistance (ATH zone)
🎯 Long Entry Possibilities
✅ Entry Zone: $1.10 – $1.00 (buy the dip if it holds support)
🎯 Target 1: $1.29
🎯 Target 2: $1.65
🎯 Target 3: $1.92 (ATH retest)
🛑 Stop-loss: Below $0.93
🔻 Short Entry Possibilities
⚠️ High risk due to strong trend
Short Zone: $1.29 – $1.31 (only on rejection with strong bearish candle)
🎯 Target 1: $1.10
🎯 Target 2: $0.93
🛑 Stop-loss: Above $1.35
📈 Final Thoughts
Trend: Bullish but in consolidation phase after a huge rally.
Strategy:
Wait for dip to $1.00 – $1.10 for long.
Short scalp only if $1.29 shows strong rejection.
⚠️ Be cautious: Large moves like this often lead to volatility or pullbacks.
