FARM/USDT 1-hour chart, including Fibonacci retracement levels, RSI insight, and a swing trade vs. scalp trade plan

1. Fibonacci Retracement (based on recent swing low to high)

Swing Low: ~$28.22

Swing High: ~$31.58

Key Fib Levels:

0.236 (23.6%): ~$30.79 – minor support

0.382 (38.2%): ~$30.21 – good re-entry point (support)

0.5 (50%): ~$29.90 – classic mid-level, possible bounce area

0.618 (61.8%): ~$29.59 – golden ratio, strong support

0.786 (78.6%): ~$29.08 – critical support zone

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2. RSI (Relative Strength Index) Insight:

Although RSI isn’t directly visible, the price momentum and volume spike suggest the RSI is likely above 70 (overbought). This means:

Short-term correction or pullback is possible

Not ideal to enter aggressively now – better to wait for a pullback near the 0.382–0.618 Fib zone

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3. Trade Strategy Breakdown

Swing Trade Strategy

Entry Zone: $29.60–$30.20 (especially $29.60–$29.90)

Stop Loss: $28.80 (below Fib 78.6% and 24h low)

Targets:

T1: $31.50 (recent high)

T2: $32.50 (potential breakout)

T3: $34.00 (longer swing if volume holds)

Scalp Trade Strategy

Entry: Pullback to $30.20–$30.40

Target: $30.90–$31.20

Stop Loss: Tight SL at $29.90

Timeframe: 30 min to 1 hour hold max

Support and Resistance Levels:

Support Levels:

1. $29.50 – $29.60: Recent consolidation area and MA zone.

2. $28.89: 24h low and a visible bounce level.

3. $28.22: Strong previous support zone from April 18–19.

Resistance Levels:

1. $31.58: 24h high and strong immediate resistance.

2. Psychological level $32.00: If $31.58 breaks, $32 is a round-number psychological barrier.

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Entry Points (Buy Zones):

1. Aggressive Entry: Around $30.00–$30.20 on a pullback, riding momentum.

2. Safer Entry (Buy the Dip): Around $29.50–$29.60, near the 25/99 MA and recent consolidation.

Trading Plan Idea:

Buy Zone: $29.50–$30.20

Target 1: $31.50

Target 2: $32.00+

Stop Loss: Below $28.80 for safety$FARM