Currently, the coin is trading at $0.00688 with minor daily movement, ranging between $0.00675 and $0.00703 over the last 24 hours. Despite being a meme coin, the daily trading volume of $60.5 million shows significant activity and appeal to traders.
Support and Resistance Levels:
The first support at $0.00650 is considered a strong level protecting the price from sharp declines, and the second support at $0.00620, if broken, may indicate a deeper correction towards lower levels, and the third support at $0.00580 represents the lowest level the price could reach under significant selling pressure.
The first resistance is at $0.00705, a critical level if breached may push the price towards a short-term rise, and the second resistance at $0.00750 represents a strong psychological barrier for buyers, while the third resistance at $0.00800 is an important bullish level, reaching it means the beginning of a broader bullish wave.
Technical Analysis and Trend:
The price is above the moving averages EMA7, EMA25, and EMA99, which gives short-term bullish signals.
The Relative Strength Index (RSI) = 75 indicates overbought conditions which may lead to a slight correction before trying to break the resistance.
The trading volume is active, indicating investor and trader interest in the coin.
In summary of support and resistance levels, if you are considering trading or investing in BANANAS31, entering near the first or second support provides a buying opportunity while reducing risks, and monitoring the first and second resistance is important for determining selling or profit-taking points, and always the most important thing is to place a stop loss at least 5% below the entry range to protect your capital.
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