đŸ”„ SMC Signal Alert: INJ/USDT đŸ”„

🚀 Trade Setup:

Current Price: $17.15

24H Change: +0.08%

Timeframe: 1H

📊 Technical Analysis:

Support Level: $16.72

Resistance Level: $17.60

24H High: $17.60

24H Low: $16.72

📉 Predicted Direction: Bearish

Analysis:

The current price sits near the midpoint of the 24-hour range.

RSI values (K: 29.93, D: 31.71) suggest an oversold condition, which can signal a possible short-term correction or reversal downwards.

Volumes show significant activity, potentially leading to higher volatility.

📊 Strategy:

Short Entry: Consider a short position around $17.15, targeting the support level of $16.72.

Stop Loss: Place a stop above the recent resistance at $17.60.

đŸ’Œ Strategy Details:

The oversold RSI and price struggling to break above resistance may indicate potential for a pullback towards the support level.

Traders should watch for price action to confirm the short position below $17.00.

⚠ Risk Management:

Proper position sizing and tight risk management are crucial in this volatile environment.

🔍 Monitor price action closely!

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