It Might Be Bullish Signal?💰
Analysis of STEEM/USDT ✅️
👉Market Trend & Momentum:
Current Price: $0.1792 (+1.93%)
24H High: $0.1804 | 24H Low: $0.1713
Moving Averages:
MA(7) (Yellow): $0.1784 (Short-term bullish momentum)
MA(25) (Pink): $0.1766 (Supports the uptrend)
MA(99) (Purple): $0.1742 (Long-term resistance turning into support)
The price is trading above all key moving averages, indicating a bullish trend in the short term.
Suggested Trade Plan
- Entry Points:
Aggressive Entry: $0.1780 - $0.1792 (Current price range, riding the trend)
Safer Entry: $0.1765 - $0.1770 (Near MA(25) for a possible retracement before moving higher)
- Stop Loss (SL):
Conservative SL: $0.1710 (Below the recent low & MA support)
Aggressive SL: $0.1745 (Near MA(99), in case of short pullback)
- Target Levels (TP):
Target 1: $0.1825 (Resistance area, psychological level)
Target 2: $0.1850 - $0.1870 (Previous price action resistance)
Target 3 (Long-Term): $0.1900 - $0.1950 (Strong supply zone)
Risk-Reward Ratio & Considerations:
Risk-Reward Ratio: 1:2 or better (Adjust SL & TP accordingly)
Volume Analysis: Increasing volume confirms the breakout, but watch for exhaustion.
Market Sentiment: If price holds above $0.1780, bulls may push towards $0.1850.
Final Verdict:
Trend: Bullish
Strategy: Buy on dips, trail SL as price moves up
Breakout Confirmation: Closing above $0.1804 with strong volume could signal a move to $0.1850+
