$CFX $CFX

$CFX /USDT Analysis:

Current Price: $0.1495 (+13.34%)

Moving Averages:

MA(7): $0.1416 (short-term trend support)

MA(25): $0.1359 (medium-term support level)

MA(99): $0.1455 (long-term trend indicator, currently acting as support)

Key Levels:

Immediate Resistance: $0.1516 (24-hour high, close to the current price and likely to see selling pressure)

Secondary Resistance: $0.1578 (higher resistance, indicating potential short setup zone if the price pushes higher)

Trade Setup for Short Position:

Short Entry Zone: Between $0.1500 and $0.1516, close to the 24-hour high.

Stop Loss: $0.1600, above the secondary resistance level of $0.1578 to accommodate any breakout.

Take Profit Targets:

Target 1: $0.1416 (near MA(7), where price could find some support)

Target 2: $0.1359 (aligns with MA(25) and offers a stronger support for a larger move downwards)

Summary:

This short setup leverages the resistance near the 24-hour high, with a stop loss above $0.1578 in case of a breakout. The profit targets aim to capture support bounces at the MA(7) and MA(25) levels, balancing risk and reward.

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