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

Hey traders! Let’s dive into the NEWT/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 sharp upward surge with a recent pullback, testing the MA(5) at 0.404. The RSI is at 53.02, indicating neutral momentum with room to grow, and the price is currently at 0.4631 (+44.85%). On the 4-hour chart, the price broke above 0.1500 with significant volume, and the MACD shows a bullish crossover with a value of 0.0177. The RSI here is at 61.34, suggesting moderate bullish momentum. 🌱

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

• Entry Point: 0.4631 🚀

• Stop Loss: 0.4120 (below recent support) 🛡️

• Take Profit: 0.6464 (next resistance level) 🎯

The trend looks promising with strong volume, but watch the RSI for overbought signals. Set alerts 📢 and manage risk wisely! If the price drops below 0.4120, consider switching to a Short with a stop at 0.4631 and take profit at 0.3275. Happy trading, and let’s ride this NEWT wave! 🚀💪

Percentage Difference Calculation:

• Entry Point: 0.4631

• Take Profit: 0.6464

Profit Percentage:

[(0.6464 - 0.4631) / 0.4631] × 100 = (0.1833 / 0.4631) × 100 ≈ 39.58% 🎉

• Stop Loss: 0.4120
Loss Percentage:
[(0.4631 - 0.4120) / 0.4631] × 100 = (0.0511 / 0.4631) × 100 ≈ 11.03% 🛡️

The risk-reward ratio is approximately 1:3.6, making this a solid opportunity! 📊$XRP