📝 MORPHO/USDT Trading Analysis
The MORPHO/USDT pair is currently showing a volatile phase. Immediate resistance is strong around the $1.540 level (the 24h High), which must be broken for an upward trend confirmation. The primary support level appears firm near the $1.477 (24h Low) mark, providing a potential bounce-back zone.
Entry Strategy: Look for an entry point upon a successful breakout above $1.540, or on a strong rejection/retest of the $1.477 support.
Exit Strategy & Profit Taking (PT):
PT 1: $1.580 (Partial profit to secure initial gains).
PT 2: $1.620 (Next strong resistance target).
PT 3: $1.650 (Conservative final target, re-evaluate the market trend here).
Stop-Loss (SL): A tight Stop-Loss should be set just below the $1.470 level to manage risk effectively.
@Morpho Labs 🦋 #Morpho $MORPHO $INJ
