$RED Trading Strategy
Basic Information
Current Price: 0.8234 USDT (based on latest data, 24h increase +32.61%)
Support Level: 0.60-0.70 USDT
Resistance Level: 0.90-1.00 USDT (short-term target), 1.38 USDT (historical high)
Market Trend: Short-term high, potential for a pullback risk, long-term potential looks promising (DeFi oracle track)
Trading Strategy
Entry Point:
Wait for a price pullback to the support level around 0.70 USDT, build position in batches.
Or enter on a breakout above 0.90 USDT on the 4-hour candlestick close (need to confirm the validity of the breakout).
Stop Loss Setting:
Short-term trading: Set stop loss 5%-8% below entry price (e.g., if entering at 0.70 USDT, stop loss at 0.65-0.66 USDT).
Long-term holding: Set stop loss below 0.60 USDT support level (e.g., at 0.58 USDT).
Take Profit Target:
First Target: 0.90 USDT (short-term resistance level, profit 10%-15%).
Second Target: 1.00 USDT (breakout signal).
Long-term Target: 1.38 USDT (historical high, adjust based on market sentiment).
Risk Management:
Position Control: Single trade not exceeding 10%-15% of total capital.
Monitor Market Fluctuations: Recent Binance suspension events may affect confidence, beware of sudden negative news.
Combine with Technical Indicators: If RSI is overbought (>70), reduce position and wait.
Market Analysis
Short-term: After a 32.61% price increase, a pullback may occur, suggested to wait for buy opportunity.
Long-term: RedStone fundamentals are strong, serving 70+ chains, covering 1250+ assets, DeFi demand growth supports price.
Notes: Token release (increasing to 1 billion over the next 4 years) may exert pressure, need to monitor project dynamics.
Short-term Traders: Patiently wait to buy near 0.70 USDT, set strict stop loss.
Long-term Investors: Build position in batches, hold until 1.38 USDT or higher,
$RED #BNBChainMeme热潮