$AIXBT /USDT Analysis: Testing Resistance Amid Recovery $AIXBT is trading at 0.6847, up by 6.60% over the last 24 hours, rebounding from a low of 0.5881. The pair is regaining momentum after recent declines but faces challenges near key resistance levels.
Key Levels to Watch
Resistance:
0.7019: Immediate resistance; a breakout above this level could open the door for a rally.
0.7592: A critical level to confirm sustained bullish momentum.
Support:
0.6377: Immediate support; a breakdown here may push the price back toward 0.5881.
0.5881: Strong support and recent low; holding above this level is crucial for recovery.
Trading Strategy
For Long Positions:
Entry near 0.6850, targeting 0.7019 and 0.7592.
Set a stop-loss below 0.6377 to manage downside risk.
For Short Positions:
Entry near 0.7019 if rejected, targeting 0.6377 and 0.5881.
Place a stop-loss above 0.7100.
Market Insight
The RSI is gradually moving higher, suggesting growing bullish momentum, while the MACD hints at early recovery signs. However, trading volume remains moderate, indicating cautious market sentiment. Monitor key levels for decisive moves.