📌 Market Overview:
The price has experienced a sharp decline from its previous highs (~70 USDT).
Current price is around 31.52 USDT, sitting near the 200 EMA (red line), which is a major support level.
Indicators such as RSI, Stoch, MOM, and OBV suggest potential oversold conditions and possible reversal.
📈 Trade Plan: Potential Reversal (BUY Setup)
🎯 Entry: Around 31.52 - 31.33 USDT (Current Level)
🎯 Take Profit Target:
First Target: 42.95 USDT
Second Target: 50 USDT (If momentum builds up)
🔻 Stop-Loss:
Below 27.13 USDT, as a break below this level could signal further downside.
🟢 Bullish Scenario (Reversal Confirmation)
If price holds above the 200 EMA and shows a bullish reaction (green candles, higher lows).
Volume increase and RSI moving back above oversold zones.
🔴 Bearish Scenario (Trade Invalidation)
If price drops below 31 USDT, it could signal weakness.
A breakdown below 27.13 USDT could lead to further downside, potentially toward 20 USDT.
The price has experienced a sharp decline from its previous highs (~70 USDT).
Current price is around 31.52 USDT, sitting near the 200 EMA (red line), which is a major support level.
Indicators such as RSI, Stoch, MOM, and OBV suggest potential oversold conditions and possible reversal.
📈 Trade Plan: Potential Reversal (BUY Setup)
🎯 Entry: Around 31.52 - 31.33 USDT (Current Level)
🎯 Take Profit Target:
First Target: 42.95 USDT
Second Target: 50 USDT (If momentum builds up)
🔻 Stop-Loss:
Below 27.13 USDT, as a break below this level could signal further downside.
🟢 Bullish Scenario (Reversal Confirmation)
If price holds above the 200 EMA and shows a bullish reaction (green candles, higher lows).
Volume increase and RSI moving back above oversold zones.
🔴 Bearish Scenario (Trade Invalidation)
If price drops below 31 USDT, it could signal weakness.
A breakdown below 27.13 USDT could lead to further downside, potentially toward 20 USDT.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.