Trade Plan for RESOLVUSDT (Long Position)
Entry Price:
$0.318 (Current price is $0.32006, consider entering on a slight pullback)
Stop Loss (SL):
$0.300 (below the recent low, ensuring a buffer for minor fluctuations)
Take Profit (TP):
$0.350 (near the recent high, a reasonable target given the upward momentum)
Rationale
The chart indicates a strong upward trend with the price recovering from a significant drop. The RSI (67.85553) is in the overbought territory but still has room to maneuver before reaching extreme levels. The OBV and MA(7) indicate positive volume and a bullish trend.
Risk Management
Ensure a risk-reward ratio of at least 1:2. Monitor the price action and adjust the stop loss accordingly to lock in profits.