Technical Analysis of WLD/USDT (1D Chart)
Current Price: $1.150 (+17.95%)
Indicators Used:
EMA (7, 25, 99): Price has broken above all short-term EMAs, and it's approaching the 99 EMA ($1.137) from below.
MACD: Bullish crossover, MACD line is above the Signal line and increasing.
RSI (6): 93.371 — extremely overbought (over 70 is considered overbought).
Volume: Significant increase in volume, suggesting strong buying momentum.
Price Action:
A strong breakout is in progress.
Resistance zone near $1.443 (horizontal level and historical EMA99 resistance).
Previous bottom at $0.573 suggests a double bottom breakout rally.
Immediate support now near previous resistance around $1.00 - $1.05 zone.
---
Intraday Trading Signal
Strategy: Momentum-based breakout trading, but cautiously because RSI is overheated.
---
Entry Point(s):
Primary Entry (Aggressive): Around $1.140 - $1.150 (current level) — entering on momentum.
Secondary Entry (Conservative): If price pulls back slightly — buy at $1.08 - $1.10 support zone (near EMA(7) and EMA(25)).
---
Stop-Loss Placement:
Tight Stop-Loss: $1.05 (below today's breakout support zone and EMA clusters).
Wider Stop-Loss (safer for volatile swings): $0.99 (psychological level, below today's breakout candle low).
---
Take-Profit Target(s):
First TP (near-term resistance): $1.30 (recent psychological level and minor historical congestion).
Second TP (strong resistance): $1.43 - $1.45 (major resistance at previous EMA99 and horizontal structure).
Extended TP (if momentum continues): $1.60+ (projected based on breakout extension — Fibonacci extensions).
---
Summary of the Trading Plan
---
Risk Management Advice:
Since RSI is extremely high, be ready for potential sharp pullbacks.
Reduce position size slightly due to increased volatility.
Consider using a trailing stop once above $1.30 to lock profits if the rally continues