$PERP / USDT โ€“ Strong Bullish Move โ€“ Can It Sustain? ๐Ÿ”ฅ๐Ÿ“ˆ

$PERP / USDT is currently trading at $0.2665, showing a significant gain of +9.00% today! The 4-hour chart reveals a strong upward surge, breaking above previous resistance levels.

๐Ÿง Potential Scenarios to Watch:

* Resistance Level: The recent high of $0.2790 will act as immediate resistance.

* Support Levels: Potential support levels to watch on any pullback include the $0.260 and $0.250 zones.

* Increased Volume: The strong upward move is accompanied by a noticeable increase in volume, which supports the bullish momentum.

๐Ÿ“ˆ Potential Long Entry (On Breakout or Support Hold):

* Breakout: Consider entering long if the price breaks decisively above $0.2790 with strong volume, targeting higher resistance levels. Place a stop loss below the breakout point.

* Support Hold: If the price pulls back to the $0.260 support level and shows signs of holding, a long entry with a stop loss below this support could target a retest of the $0.2790 resistance and a potential breakout.

๐Ÿ“‰ Potential Short Entry (On Signs of Weakness): If the price shows signs of rejection at the $0.2790 resistance with decreasing volume, a short entry targeting the $0.260 support could be considered.

โš ๏ธ Outlook:

PERP/USDT is exhibiting strong bullish momentum. Monitor the price action around the $0.2790 resistance and potential support levels for trading opportunities. Be mindful of potential volatility after such a significant move and always manage your risk effectively.

PERPUSDT ยท Binance

0.2665 +0.0071 (+2.74%) (based on the last 4 hours)

#PERPUSDT #BullishMomentum #BreakoutWatch #Monitoring #Gainer