🚀 $RED is on fire! With a +28.53% surge in the last 24h, traders are asking: Will this bullish momentum continue, or is a correction coming? Let’s analyze! 👇
🔍 Market Sentiment:
🟩 Strongly Bullish, but Near Resistance!
RedStone ($RED) has been in a strong uptrend, but indicators suggest caution as it approaches key levels:
▫️ RSI(14): 64.35 → Bullish, but nearing overbought zone
▫️ TD Sequential: 13 Up → Extended bullish streak
▫️ Upper Bollinger Band: $0.656 → Potential resistance level
▫️ SMA(50): $0.483 → Strong support zone
💡 Key Takeaway?
If $RED breaks and holds above $0.656, we could see a push toward $0.700+. However, failing to hold momentum may lead to a pullback toward $0.550 - $0.520.
🎯 Trading Idea:
🟩 Potential Long Entry (Trend Continuation)
🔹 Buy Zone: $0.600 - $0.610 (Breakout confirmation above resistance)
🔹 Stop-Loss: $0.580 (Below recent support)
🔹 Take Profit: $0.680 - $0.700 (New highs if momentum holds)
🔹 Risk-Reward Ratio: 1:3
✔️ Confirmation Before Entering:
▫️ RSI staying above 60 → Momentum intact
▫️ Price stabilizing above $0.600
▫️ Sustained volume increase
🟥 Potential Short Entry (Overbought Rejection)
🔹 Sell Zone: $0.650 - $0.660 (If price struggles to break higher)
🔹 Stop-Loss: $0.675 (Above resistance level)
🔹 Take Profit: $0.550 - $0.530 (Potential retracement zone)
🔹 Risk-Reward Ratio: 1:3
✔️ Confirmation Before Shorting:
▫️ Rejection from upper Bollinger Band ($0.656+)
▫️ Weak volume on breakout attempts
▫️ RSI dropping below 60
📊 Key Metrics:
💰 Price: $0.612
⚖ H/L: $0.665 | $0.446
📈 1H Change: +0.90%
🌕 24H Change: +28.53%
📈 7D Change: 0.00%
📈 30D Change: 0.00%
⛰ ATH: $0.932 (-33.88%)
📊 24H Volume: $126.32M
💎 Market Cap: $177.71M
💡 Final Thoughts:
$RED is in strong bullish momentum, but traders should watch for resistance at $0.656. A breakout could trigger new highs, while a pullback toward $0.550 could offer a better re-entry point. 📢 Will $RED keep climbing or face a correction? Drop your thoughts below! 👇
🪧 VOTE NOW!
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