LUMIA/USDT Technical Analysis

Current Price: $1.209

Price Trend: Currently in a bearish phase after a significant drop of 13.40%.

Technical Indicators:

Bollinger Bands:

Upper Band: $1.399

Middle Band (MA): $1.244

Lower Band: $1.089

Key Support and Resistance Levels:

Support Level: $1.100 (previous low)

Resistance Levels:

First Resistance: $1.244 (Middle Band)

Second Resistance: $1.399 (Upper Band)

Third Resistance: $1.445 (24h High)

Trading Signals:

1. Bearish Signal:

Action: Sell/Short if the price breaks below the support level at $1.100.

Target Price: Aim for $1.075 as the next support level.

2. Bullish Signal:

Action: Buy if the price crosses above the middle band at $1.244.

Target Price 1: $1.399 (Upper Band)

Target Price 2: $1.445 (Previous high)

3. Range Trading:

Action: Consider range trading between $1.100 and $1.244.

Entry Point: Buy at $1.100 and sell at $1.244.

Summary:

Short-term traders should watch for potential breakouts or breakdowns around the key levels mentioned.

Long-term investors might consider accumulating LUMIA near support levels for potential gains if the price recovers.

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