FLM (FLM/USDT) - A Cautious Approach
Current Price: $0.0602 (as of October 21, 2024)
Recent Performance: FLM has seen a modest increase of 8.47% in the past 24 hours.
Technical Analysis:
* Support: The immediate support level is at $0.0553. A break below this level could signal a short-term pullback.
* Resistance: The immediate resistance is at $0.0671. A break above this level could lead to further upside.
Trading Strategy:
Given the recent price action and relatively low trading volume, a cautious approach might be suitable:
* Buy: If the price retraces to the $0.0553 support level and shows signs of bullish reversal (e.g., candle reversal, higher lows), consider buying with a stop-loss below the support level. However, be mindful of the low volume, which could indicate a lack of strong buying interest.
* Take Profit: Set a take-profit target near the $0.0671 resistance level or based on your risk tolerance.
Note: This analysis is based on the provided chart and is not financial advice. Always conduct thorough research and consider your risk tolerance before making any investment decisions.
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