Trade Setup & Technical Analysis for AUCTION/USDT** #RamadanGiveaway
#### **1. Market Overview:**
- **Current Price:** $35.58
- **24H High:** $37.31
- **24H Low:** $28.54
- **24H Price Change:** +24.67%
- **24H Volume:** 3.02M AUCTION / 101.68M USDT
*2. Trend Analysis:**
- The price has shown a **strong bullish trend**, surging from approximately **$25.39** to **$37.31** in a short span.
- **Higher highs and higher lows** indicate an uptrend.
- Short-term consolidation around **$35-$37** suggests a potential breakout or correction.
#### **3. Key Support & Resistance Levels:**
- **Support Levels:**
- **$32.66** (recent local low)
- **$30.04** (psychological level)
- **$28.54** (24H low)
- *Resistance Levels:**
- *$37.31** (recent high)
- *$40.00** (psychological level, next resistance)
4. Volume & Order Book Analysis:**
- Bid Strength:** 60.63% buyers vs. 39.37% sellers → **bullish pressure** still present.
- Large **buy walls** at **$35.58** suggest strong support at this level.
- **Sell orders around $35.61-$35.62** indicate slight resistance in the short term.
5. Potential Trade Setups:**
**Bullish Scenario:**
- **Entry:** If price holds above **$35.50**, consider long entry targeting **$37.30-$40.00**.
- **Stop-Loss:** Below *$34.50** (previous structure low).
- **Target:$37.31, then $40.00+.**
Bearish Scenario (Short-Term Pullback):**
- *Entry:** If price drops below **$34.50**, short towards **$32.66-$30.00**.
- *Stop-Loss:* Above **$36.00** (recent resistance).
- **Target:*$32.66, then $30.00.**
6. Indicators to Watch:**
- **RSI (Relative Strength Index):** Check if it's overbought (>70) or neutral.
- **Volume Profile:** Increased volume at resistance could mean reversal, while a breakout with volume confirms continuation.
*Conclusion
- **Bias:** Bullish with potential for breakout if it holds above $35.50.
- **Strategy:** Wait for confirmation before entering. Avoid FOMO and manage risk with stop-loss.