The $JELLYJELLY USDT chart is showing classic retracement behavior after an explosive move that saw its price spike to $0.58925. Following that volatility, the price has settled down and is currently consolidating around $0.04757, marking a healthy +17.00% gain in the last 24 hours. The trading range remains tight between a 24-hour low of $0.03830 and a high of $0.04767, with a significant 24-hour volume of 362.95M #JELLYJELLY / 15.24M USDT. This consolidation phase provides an excellent entry opportunity for the next leg up!
Technical Analysis Snapshot (1A Timeframe)
MACD Bullish Cross: The MACD is positive at 0.00244. Crucially, the DIF (-0.00680) is crossing upwards over the DEA (-0.00924), confirming a bullish crossover. This is a powerful signal that the short-term bearish momentum is reversing and buying pressure is taking control.
Stochastic Reset and Rise: The Stochastic J value is 63.64941, moving away from oversold territory and indicating that upward momentum is building. The K and D lines (50.90860 and 44.53820, respectively) are now well-positioned to drive the price higher without immediately hitting overbought conditions.
RSI Ready to Run: Both RSI (6) at 65.28213 and RSI (14) at 48.53919 are near the 50 mark. The short-term RSI(6) is showing strength, while the longer-term RSI(14) is neutral, confirming plenty of room for a sustained upward rally.
🟢 SHORT-TERM BULLISH CONTINUATION TRADE FORECAST 🟢
The clear bullish crossover on the MACD, supported by the momentum reset on the Stochastic and healthy RSI levels, suggests a high-probability Long trade, anticipating a breakout from the current consolidation zone.
Trade: LONG
Entry Price: $0.04800 - $0.04900 (A confirmed entry above the 24-hour high of 0.04767 to confirm the breakout and momentum.)
Take Profit (TP): $0.06000 (Targeting a move to the next key resistance/psychological level, offering a strong risk/reward.)
Stop Loss (SL): $0.04200 (Placed safely below the current short-term support/consolidation low to protect against a trend failure.)
Remember: Crypto trading is highly volatile. Execute trades with discipline and use proper risk management. NFA/DYOR.
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