Right now $BANANA looks bullish on the 4hr chart, mainly because of that strong breakout we just saw. That said, the price has already moved a lot, so I wouldn’t rush in at these levels. Personally, I’d rather wait for a pullback and look to buy somewhere around $7.20 to $7.50. I wouldn’t feel comfortable buying above $8.00 since that’s where risk really starts to increase. If I do take the trade, I’d keep a stop loss around $6.90 just to protect myself in case the move fails. On the upside, I’d start taking profits around $8.50, then $9.30, and if the momentum stays strong, I’d let a small portion ride toward $10.00. This is strictly a spot trade for me, with a modest position size, and I’d take profits in parts instead of trying to sell everything at the top. If the price never pulls back into my buy zone, I’m fine with skipping the trade and waiting for a better setup.
