technical analysis and trade signal for $SPELL /USDT:
Current Price: 0.0008843 (Up +8.90% in 24h)
Trend: Bullish momentum with a +8.90% increase in the last 24 hours.
Key Levels:
Support: 0.0008002 (24h Low)
Resistance: 0.0009781 (24h High)
The price is currently riding an upward trend after bouncing from support. The resistance at 0.0009781 is a key level to monitor. If the price breaks above this resistance, it may continue upwards.
Trade Signal:
Entry Point: Buy at 0.0008843 (current market price)
Target Levels:
Target 1: 0.0009200 (First Resistance Level)
Target 2: 0.0009600 (Key resistance area for further breakout)
Target 3: 0.0009800 (All-time high and psychological resistance)
Stop Loss: 0.0008000 (Support Level)
Momentum:
Short-Term Momentum: Positive, with a 24h gain of +8.90%. The price has been trending upwards consistently with higher lows.
Medium-Term Momentum: Bullish, with recent price actions suggesting further upward movement towards the resistance zone at 0.0009781.
Long-Term Momentum: Neutral to bullish, as the price is still holding above its support level of 0.0008002.
Summary:
The momentum is bullish, but be mindful of the resistance levels. The first target at 0.0009200 is a critical level. If broken, expect further upward movement towards the higher targets. Be cautious of retracements, and always monitor market news or shifts in sentiment.
Let me know if you'd like more details or adjustments!
