$SPELL /USDT Technical Analysis - January 26, 2025
📈 Current Price: $0.0013333
📊 24H Change: +30.51%
🔥 Volume: 39.06B $SPELL | $46.23M USDT
Technical Indicators:
1. Moving Averages (MA):
Short-term MA: Bullish, price holding above EMA levels.
Long-term MA: Uptrend sustained, signaling strong momentum.
2. Bollinger Bands (BOLL):
Price near the upper band indicates bullish pressure.
A breakout above $0.0013680 may lead to a rally.
3. Relative Strength Index (RSI):
RSI currently in the 70-75 range, suggesting overbought conditions but strong bullish sentiment.
4. MACD:
Positive crossover observed, indicating potential further upward momentum.
Support and Resistance Levels:
Immediate Resistance: $0.0013680
Major Resistance: $0.0014500
Support Levels:
First Support: $0.0012854
Second Support: $0.0011921
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Trade Strategy:
1. Breakout Trade:
Entry: Above $0.0013680
Target: $0.0014500 (6% profit potential)
Stop-Loss: $0.0013100
2. Pullback Buy:
Entry: Near $0.0012854 support
Target: $0.0013680
Stop-Loss: $0.0012500
Trader's Note:
SPELL/USDT is showing strong momentum with high trading volume. However, overbought RSI may lead to short-term corrections. Adjust risk levels and follow stop-loss placements strictly.
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