#ReboundOutlook #NEIROUSDT
Looking at your trading chart for NEIROUSDT, here’s $ETH
Current Trend:
The price is showing a rebound from the 0.0007503 level, which could act as support.
The upward momentum is strong, but the indicators (RSI and STOCHRSI) suggest overbought conditions.
Volume Analysis:
High trading volume supports the recent upward price move.
Watch for a volume decline in the next candles, as it might indicate weakening buying pressure.
Resistance:
Price is approaching a potential resistance level around 0.0007617 or 0.0007671 (recent peaks).
A breakout above this level could lead to further gains.
2. Short-Term Strategy
Bullish Scenario (Expecting Price Increase):
Entry Point:
If the price closes above 0.0007617 with high volume, consider entering a long (buy) position.
Target (TP):
First target: 0.0007671.
Second target: 0.0007817 (next potential resistance).
Stop Loss (SL):
Place it below the support level, around 0.0007503.
Indicators Confirmation:
Wait for a slight cooldown in STOCHRSI or RSI (below 70) before entering to reduce overbought risk.
Bearish Scenario (Expecting Price Pullback):
Entry Point:
If the price fails to break above 0.0007617 and shows reversal signs (e.g., a red candle with high volume), consider a short (sell) position.
Target (TP):
First target: 0.0007503 (current support level).
Second target: 0.0007353 (deeper support zone).
Stop Loss (SL):
Place it slightly above 0.0007617 to limit risk.
3. Medium-Term Strategy
Consolidation Watch:
If the price enters a range between 0.0007503 and 0.0007617, wait for a breakout before taking any position.
Divergence:
Monitor for any divergence between price and RSI. If price rises but RSI declines, it could signal a reversal.
4. Risk Management
Never risk more than 1-2% of your capital on a single trade.
Use a trailing stop-loss if the price moves significantly in your favor to lock in profits.