$BANANAS31 📈 Technical analysis
1. Overall trend:
There is a clear upward trend that started in the middle of the month, with the price moving above the averages.
The price is now breaking through a previous resistance area and turning into strong support.
2. Technical indicators:
A. Averages (MA and BB):
MA 200 is far below (red line), indicating that the price is in a strong upward trend.
Bollinger Bands (BB): The price is close to the upper limit, indicating buying momentum, but also a potential slight correction in the short term.
B. RSI Indicator (Momentum Strength):
RSI at 61.59, which is in the positive zone but not in overbought territory, supporting the continuation of the rise.
There was a clear overbought condition previously (>75) followed by a healthy correction.
C. MACD:
The MACD indicator is still positive, but there is a convergence between the blue and orange lines, indicating a potential slowdown in momentum or a slight correction.
🧱 Support and resistance areas:
Level Type
0.011570 Very strong support (24-hour low)
0.011189 Support medium (bottom of nearby candles)
0.01350 – 0.01400 Current resistance
0.014696 Strong resistance (24-hour high)
0.01500 – 0.01700 Potential profit-taking area
✅ Recommendations:
💹 Long trades (buying):
Opportunity 1 (medium risk):
Entry at 0.01300 - 0.01310
Stop loss: 0.01240
🎯First target: 0.01450
🎯Second target: 0.01550
Opportunity 2 (low risk):
Entry at 0.01180 – 0.01200 (in case of correction)
Stop loss: 0.01100
🎯Target: 0.01350 – 0.01500
📉 Short trades (selling):
Opportunity (high-risk speculation):
Short entry at 0.01450 – 0.01500 (in case of rapid rise without clear breakout)
Stop loss: 0.01550
🎯Target: 0.01300 – 0.01250
> ⚠️ Note: Shorting here only if strong reversal candles appear in that area or clear weakness in MACD.
📊 Summary:
Overall trend: Up.
The price respects the averages and shows strong momentum.
A short-term correction is likely, but it is healthy and opens up new long opportunities.
Shorting is only for professional speculators within resistance areas.
