This is the 1-hour $STG /USDT chart from Binance, indicating an upward trend with a current price of $0.5224 (+1.04%).
1. Trend Analysis: Over the past 7 and 90 days, $STG /USDT has shown significant growth of 37.20% and 76.48%, respectively, signaling strong bullish momentum.
2. Resistance & Support Levels: Immediate resistance is near $0.5500, while support is observed at $0.5000.
3. Entry for Long Position: A long entry can be considered if the price breaks above $0.5250, confirming further upside momentum.
4. Target for Long: First target at $0.5500, with a potential extended target at $0.5700.
5. Stop Loss for Long: Place a stop loss at $0.5050 to manage risk.
6. Entry for Short Position: A short position can be taken if the price drops below $0.5000, indicating bearish movement.
7. Target for Short: First target at $0.4800, with an extended target at $0.4600.
8. Stop Loss for Short: Stop loss at $0.5150 to limit losses.
9. Indicators: Ensure volume supports the breakout (for long) or breakdown (for short) before entering trades.
10. Caution: Watch for market sentiment and macroeconomic events that may influence volatility.
Always trade with proper risk management and use position sizing that aligns with your portfolio.
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