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Critical Analysis: $BANANA /USDT Approaching Key Levels โ Major Reversal or Continuation? โผ๏ธ๐ฅ๐
The $BANANA/USDT chart on the 15-minute timeframe reveals a clear descending channel, indicating strong bearish pressure with overhead resistance and support below. Currently, the price sits at 55.96 USDT, reflecting a 6.64% drop in the last 24 hours.
Key Levels:
Major Support: 55.69 USDT
Resistance: 60.73 USDT
๐ฏ Short-Term Entry:
Entry (Long): If the price holds above 55.69 USDT, consider entering around 56.00 USDT with a short-term target at 58.00 USDT.
Stop Loss: Place at 55.50 USDT to manage risk if bearish momentum resumes.
๐ Long-Term Entry:
Entry (Long): A breakout above 60.73 USDT could signal a bullish reversal. Enter near 61.00 USDT for a longer-term position, targeting 63.50 USDT and 65.00 USDT.
Stop Loss: Set a wider stop loss at 59.50 USDT to accommodate volatility.
If the price breaches support at 55.69 USDT, further downside pressure may follow, so consider exiting long positions. Stay vigilant as $BANANA approaches these critical levels โ the next move could determine the trend for upcoming sessions!
Current Price: 55.74 USDT (-7.45%)
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