Saba of Oliver’s Morning Trading Opinion: BANANAS/USDT 📈

Hey traders! Let’s dive into the BANANAS/USDT perpetual futures chart on Binance. I’ve analyzed the 1-hour and 4-hour timeframes to provide you with a friendly trading recommendation. 📊

On the 1-hour chart, we see a strong upward trend with a recent pullback, testing the MA(5) at 0.00525. The RSI is at 81.50, indicating overbought conditions, but the price action suggests momentum is still intact. On the 4-hour chart, the price broke above 0.00841 with solid volume, and the MACD shows potential for a bullish crossover. The RSI here is at 74.08, nearing overbought but with room to grow. 🌱

Based on this, I recommend a Long position. Here’s the plan:

• Entry Point: 0.01550 🚀

• Stop Loss: 0.01300 (below recent support) 🛡️

• Take Profit: 0.01750 (next resistance level) 🎯

The trend looks promising, but keep an eye on RSI for a potential reversal. Set alerts 📢 and manage risk wisely! If the price drops below 0.01300, consider switching to a Short with a stop at 0.01550 and take profit at 0.01100. Happy trading, and let’s ride this banana wave! 🍌💪$XRP