💥$FORTH /USDT Testing Resistance After a +7.79% Rally!🔥
🌟Current Price: 2.698 USDT (+7.79%)
🌟24-Hour High: 2.773 USDT (Key resistance level)
👍24-Hour Low: 2.479 USDT (Critical support zone)
Volume (24H):
🌟FORTH: 1.06M
🌟USDT: 2.75M
⚡FORTH has shown strong bullish momentum, reaching close to the 24-hour high, supported by trading volume. The chart displays signs of consolidation near the resistance level, indicating potential for either continuation or pullback.
⚡Technical Insights 🧩
1. Trendline: The upward trend starting from 2.313 USDT highlights ongoing bullish sentiment
2. RSI: Likely approaching overbought territory—monitor for slowing momentum or divergence
3. MACD: Bullish crossover confirmed, aligning with the uptrend.
4. Bollinger Bands: Widened, reflecting increased volatility and possible breakout scenarios.
⚡Trading Setup 📝
⚡Bullish Scenario
Type: Breakout Trade
👉Entry Point: Above 2.700 USDT (confirmed breakout with strong volume)
👇Take-Profit Targets:
🎯TP1 (1:1): 2.750 USDT
🎯TP2 (1:2): 2.800 USDT
💢Stop Loss: Below 2.650 USDT
🎖️Bearish Scenario
Type: Pullback Trade
👉Entry Point: Below 2.650 USDT (confirmed rejection at resistance)
👇Take-Profit Targets:
🎯TP1 (1:1): 2.600 USDT
🎯TP2 (1:2): 2.550 USDT
💢Stop Loss: Above 2.675 USDT
⚡Risk Management Strategy ⚠️
For Bullish Setup, after hitting TP1 (2.750 USDT):
Move Stop Loss to Breakeven (Entry Price)
Secure partial profits (around 50% trade quantity), allowing room for extended gains
For Bearish Setup, adjust Stop Loss to Entry upon reaching TP1 (2.600 USDT) to minimize risk and lock in gains
⚡Key Notes ✍️
1. Volume Confirmation: Validate breakout or pullback moves with increased trading activity to avoid false signals.
2. Monitor the 2.773 USDT resistance zone closely—failure to breach might lead to extended consolidation or potential pullback.
Disclaimer: #DYOR*
Buy Or Trade With Me On $FORTH