NMRUSDT Key Levels:
Entry: 1 (23.50 - 23.60)
TP1 (Target Profit 1): 0.786 (20.17)
TP2: 0.618 (17.55)
TP3: 0.50 (15.71)
TP4: 0 (7.92)
DCA (Dollar Cost Averaging): 1.135 (25.60)
SL (Stop Loss): 1.272 (27.74)
These levels indicate a trading strategy with multiple profit targets and a stop-loss level to limit losses.
Current Candlestick: The latest candlestick is long and bullish, suggesting strong buying pressure. This could indicate the start of an upward trend or an immediate recovery.
RSI (Relative Strength Index) Analysis:
Current Value: RSI is around 84 - 83, which is very close to or in the overbought zone above 70. This suggests the price may be overextended and could see a correction or pullback soon.
RSI Trend: Before the latest point, RSI had been moving sideways around the 50-60 level but has recently spiked, aligning with the price movement.
Interpretation and Advice:
The current price appears to have reached a key point after the sharp rise. The RSI level above 80 indicates a potential overbought risk, and traders might consider taking profits at TP1 or TP2.
The Stop Loss level (1.272) is set above the recent high, providing protection in case of a reversal.
The DCA strategy could be used to average the entry price if the price drops toward the entry level.
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✅MY Free Signals Telegram
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t.me/AltcoinPiooners
✅Personal Telegram (Premium)
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youtube.com/@AltcoinPiooners
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.