I lean toward a short in previous trade due to the prevailing downtrend, but monitor for a breakout above $41.00, which would invalidate the short and favor a long.
Now the price breaks above $41, I switch to Long
• Long Trade (alternative, if bullish reversal confirmed): • Entry: $40.55 • Take Profit (TP): $42.00 (next resistance level, ~3.5% rise, yielding ~35% gain with 10x leverage) • Stop Loss (SL): $39.50 (below recent low, ~2.6% drop, risking ~26% with 10x leverage) • Risk-Reward Ratio: Approximately 1:1.35
$Taiko (TAIKOUSDT) Analysis ==== Long or Short Recommendation:
Short-Term Long: The price is above key support ($0.55) and the 50 MA, with potential to retest resistance at $0.57-$0.5757. Bullish sentiment persists due to the Binance listing and trading volume.
Short Consideration: If the price breaks below $0.55 with increased selling volume, a short position could be viable targeting $0.52.
LONG - Short-Term Take Profit (TP) and Stop Loss (SL):
Entry Price: $0.5622 Take Profit (TP): $0.5757 (near 24h high resistance) Stop Loss (SL): $0.5550 (below 50 MA support)Risk-Reward Ratio: ~1:2 (risking $0.0072 to gain $0.0135).
Action: Consider a short-term long with the above TP/SL. Watch for a break below $0.55 to switch to a short.