$SPK Current price 0.105 Bullish
Trading Strategy:
Long Entry Price: The current price of #SPK is 0.105, it is recommended to establish a long position at this price level. Stop Loss Setting: Set the stop loss at 0.098, risk control at 0.007 (approximately 6.67%), to prevent unexpected downward breaches of key support.
Target Price: The target is set at 0.13, with potential profit of 0.025 (approximately 23.81%), and the risk-reward ratio is about 1:3.57, aligning with good trading logic.
Reasons for Bullish Outlook:
Technical Support: The area around 0.105 is the recent consolidation zone's low point, tested multiple times without effective breakdown, indicating strong buying support. Price is showing signs of stabilization, the MACD indicator has produced a bullish crossover signal at a low level, and the RSI has risen above the midpoint of 50, indicating short-term bullish momentum. If the resistance level of 0.11 is broken, it can further open up upward space towards the next key resistance at 0.13.