$RED /USDT bearish Movement ๐
๐Price $0.5756,
24-hour high:$0.6890,
24-hour low :$0.4806,
The Exponential Moving Averages (EMAs) show:
EMA (7): $0.5767 (Short-term)
EMA (25): $0.5492 (Long-term)
2. Support & Resistance Levels:
Immediate support: $0.5490 - $0.5500 (EMA 25 & previous price consolidation)
Key resistance: $0.6890 (Recent high)
Psychological level: $0.6000 (A round number often acts as resistance)
3. Candlestick & Volume Analysis:
A recent strong bullish candle was followed by red candles, indicating profit-taking or consolidation.
Intraday Trading Signal:
1. Long (Buy) Setup:
Entry Point: $0.5700 - $0.5750 (Near EMA 7 and current price)
Stop-Loss: $0.5480 (Below EMA 25 support)
Take-Profit Targets:
Target 1: $0.6000 (Psychological resistance)
Target 2: $0.6300 (Previous minor resistance)
Target 3: $0.6700 - $0.6800 (Near recent high)
2. Short (Sell) Setup (If Breakdown Below Support):
Entry Point: $0.5480 - $0.5500 (Break below EMA 25)
Stop-Loss: $0.5750 (Above EMA 7)
Take-Profit Targets:
Target 1: $0.5200 (Previous support)
Target 2: $0.5000 (Round number support)
Target 3: $0.4800 (Recent low)
Trading Strategy:
If price bounces from $0.5700-$0.5750, go long with targets at $0.6000-$0.6800.
If price breaks below $0.5500, go short with targets at $0.5200-$0.4800.
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