ASRUSDT Trading Levels:
Entry: 1.00 (4.420 USDT) - The level where the initial purchase is planned.
DCA (Dollar-Cost Averaging): 1.135 (3.832 USDT) - An additional buying point if the price declines.
SL (Stop Loss): 1.272 (3.235 USDT) - The level where the loss would be limited.
TP (Take Profit):TP1: 0.786 (5.352 USDT)
TP2: 0.618 (6.084 USDT)
TP3: 0.5 (6.598 USDT)
TP4: 0 (8.776 USDT) - A significantly lower target, likely an error or long-term goal.
RSI (Relative Strength Index) Indicator:
The current RSI value is 19.55, which is in the oversold territory (below 30). This suggests the price may be undervalued, potentially indicating a buying opportunity or an upcoming rebound.
Analysis and Interpretation:
Strategy: The chart uses Fibonacci levels to determine entry, exit, and loss points. The entry is set at 4.420 USDT, with a DCA at 3.832 USDT if the price drops further, and a stop loss at 4.735 USDT to protect capital.
Profit Targets: TP1 to TP3 are based on Fibonacci extension levels (0.786, 0.618, 0.5), indicating a technical approach to taking profits as the price rises. TP4 at 0.776 USDT seems unrealistically low and is likely a mistake.
RSI: The low RSI value (19.55) indicates an oversold condition. This could suggest a potential reversal or upward movement, especially if buying pressure increases following the recent decline.
Recommendation:
Monitor the price closely around the entry level (4.420 USDT) and DCA (3.832 USDT). The oversold RSI suggests a possible buying opportunity, but caution is advised due to the recent sharp drop.
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Related publications
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.