1. Fundamental market data:
Current price: 10.70 USDT
Daily change: +3.58%
Highest price in 24 hours: 12.47 USDT
Lowest price in 24 hours: 10.04 USDT
Trading volume in 24 hours:
TRUMP: 19.30 million
USDT: 209.31 million
---
2. Price action analysis:
The trend was previously bearish, as the price dropped from 13.88 to a low of 9.54 before starting to recover.
The price has seen a sharp rise in the recent sessions, indicating strong buying interest.
---
3. Technical indicators:
RSI (6) = 56.17
Still in the neutral zone, indicating room for further upside before reaching overbought conditions.
MACD:
DIF = -0.27, DEA = -0.39, MACD = 0.12
A slight positive crossover shows the beginning of potential upward momentum, but a strong trend has not been confirmed yet.
Historical performance:
Today: +1.23%
7 Days: -18.04%
30 days: -32.75%
90 days and above: Not available
---
4. Trading strategies and tips:
1. Short-term buy opportunity?
Due to the recent sharp rise, there may be a price correction soon. If the upward momentum continues and the price breaks 11.23, we may see an attempt to reach 12.00 - 12.50.
Conversely, if momentum is lost, the price may return to test support at 10.00 - 9.50.
2. Beware of buying traps:
If you are a short-term investor, it may be better to wait for a re-test of the support areas before buying.
If you are a long-term investor, you can hold but with risk management and setting a stop loss.
3. Support and resistance points:
Nearby resistance: 11.23 - 12.00
Nearby support: 10.00 - 9.50
---
My opinion:
The market shows a positive recovery but there are some risks due to the significant drop in recent days. It is better not to rush into buying and wait to see if the price stabilizes or re-tests the supports before making a new entry decision.
