Current price: 12.95 USDT (+4.02%)
Time frame: Daily
Technical analysis:
A strong rebound from the support level of 11.45 after a correction from the peak of 14.34.
RSI = 64.4 reflects positive momentum without reaching overbought conditions, allowing for continued upward movement.
Bollinger Bands: Movement above the middle average indicates the possibility of a new upward wave forming.
MACD: The negative gap is diminishing with a potential upward crossover soon.
Trading volumes: Increasing in tandem with the positive candles, supporting this trend.
Proposed trading strategy:
1. Target areas for positioning:
Between 12.40 – 12.70 in case of a temporary price retreat.
Momentum confirmation occurs by surpassing the 13.10 level with a daily close.
2. Potential technical targets (TP):
TP1: 13.80
TP2: 14.30 (retesting the previous peak)
TP3: 15.50 (if the previous peak is broken)
3. Risk management:
The stop loss is activated in case of breaking 11.40 or closing below the MA20 moving average.
Technical outlook:
> The Injective movement shows the beginning of a new upward trend after a healthy correction. The phased positioning (DCA) approach is suitable at this time, focusing on the 13.10 area as a key for the upcoming price movement.
