Technical Analysis for $BANANA
/USDT🎯
Current Price: $59.87
24h Range: $56.65 - $63.76
Bollinger Bands: Upper Band: $59.91, Middle Band: $58.77, Lower Band: $57.63
Parabolic SAR (0.02, 0.2): $57.60
Trend Analysis:
The price is below the middle Bollinger Band, which typically signals a bearish bias, but it is still within the Bollinger Bands range.
The Parabolic SAR suggests potential support near $57.60, aligning with the lower Bollinger Band at $57.63.
There’s significant selling pressure currently, with more depth on the sell side (4.63% vs. 0.37% buy pressure).
Key Levels:
Resistance: $63.76 (24h High)
Support: $57.60 (SAR), $56.65 (24h Low)
Trade Strategy with Target Levels
1. Bearish Scenario (Downside Target)
Entry: Short position below $59.50 (if price breaks below the middle Bollinger Band and SAR support).
Target 1 (T1): $57.63 (Lower Bollinger Band), with a potential to test $56.65 (24h Low).
Target 2 (T2): $55.00 (psychological support level, and a potential area for a bounce).
Stop Loss: $60.50 (above the middle Bollinger Band and recent price resistance).
2. Bullish Scenario (Upside Target)
Entry: Long position above $60.00 (if price moves above the middle Bollinger Band, indicating a potential upward break).
Target 1 (T1): $63.00 (near the 24h High and upper Bollinger Band).
Target 2 (T2): $64.50 (next significant resistance).
Stop Loss: $58.50 (below the middle Bollinger Band and SAR).
3. Range Trading Strategy
Entry: Buy near $57.60 (SAR support) and sell near $59.90 (upper Bollinger Band).
Target 1 (T1): $59.00 (mid-range between the middle and upper bands).
Target 2 (T2): $59.90 (upper Bollinger Band).
Stop Loss: $57.00 (below the SAR support).
Summary:
Bearish Target: $57.63 → $56.65
Bullish Target: $63.00 → $64.50
Range Trading: $57.60 (buy) → $59.90 (sell)
The strategy involves monitoring for breakouts and respecting the key support/resistance zones.
