Market Analysis for $TURBO /USDT and Also trading set-up :
Current Price: $0.002492
24h High: $0.002685
24h Low: $0.002426
24h Volume: 1.81B TURBO | 4.63M USDT
Market Sentiment
The price recently faced a downward correction after hitting a peak of $0.002706.
The Parabolic SAR dots are currently above the price, indicating bearish momentum.
The MACD shows a bearish crossover with the MACD line trending below the signal line, confirming the ongoing selling pressure.
Volume is relatively stable, with no sharp spike indicating strong bullish recovery yet.
Technical Analysis - Key Levels
Resistance: $0.002615 | $0.002706
Support: $0.002381 | $0.002264
Spot Trading Strategy
Long Entry: Consider entering around $0.002380 support with a target of $0.002615 (short-term resistance).
Stop Loss: Below $0.002264 to minimize risk.
Short Entry: If the price rallies to $0.002615 without strong volume confirmation, consider shorting with a target back at $0.002380.
Stop Loss: Above $0.002706 to avoid false breakouts.
Futures Trading Setup
Long Setup: Entry at $0.002380, TP at $0.002615, SL at $0.002264.
Short Setup: Entry at $0.002615, TP at $0.002380, SL at $0.002706.
Conclusion
The current trend shows signs of bearish momentum. For now, a cautious approach is advisable, with well-defined stop-loss levels to manage risk. Watch for a breakout above $0.002615 for bullish confirmation or a breakdown below $0.002380 for increased bearish momentum.
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