$OAX $OAX
Analysis of OAX/USDT Chart with Trade Scenario
Current Price: 0.1484 USDT (+1.99%)
24-hour High: 0.1658 USDT
24-hour Low: 0.1346 USDT
24-hour Volume: 54.73M OAX, 8.16M USDT
Chart Analysis:
- The OAX/USDT pair has recently broken out of a descending trendline, indicating potential bullish momentum.
- The price surged to a high of 0.1658 USDT before pulling back to the current level of 0.1484 USDT.
- Key support is at 0.1400 USDT, with resistance at 0.1650 USDT.
Trade Scenario:
- Bullish: Enter a long position if the price sustains above the 0.1400 USDT support level, targeting 0.1650 USDT, with a stop loss below 0.1400 USDT.
- Bearish: Consider a short position if the price falls below 0.1400 USDT, targeting 0.1300 USDT, with a stop loss above 0.1500 USDT.
This analysis suggests a potential continuation of the upward trend, but traders should monitor key levels to manage risk effectively.
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