Technical Analysis: PHB/USDT — Price Action & Key Targets 🎯
📊 Overview: The PHB/USDT trading pair has shown a solid bullish movement in the past 24 hours, currently trading at $1.637, reflecting a +9.13% increase. This recent upward momentum is supported by increasing trading volume, with 2.28 million PHB traded and 3.48 million USDT in volume.
With this strong push, we are identifying three key price targets for the upcoming sessions. Let’s break down the key levels to watch:
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1. Target 1: $1.649 — Immediate Resistance
The first resistance level is around $1.649, which aligns with recent price fluctuations and the ANCE (anticipated next candle event) value. A successful breakout above this level could signal further bullish continuation.
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2. Target 2: $1.70 — Psychological Resistance
Should price break the $1.649 resistance, the next target would likely be $1.70. This is a key psychological level and historically, price has faced resistance around this region. Traders should monitor for any rejection or consolidation here to gauge market sentiment.
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3. Target 3: $1.80 — Next Key Milestone
The $1.80 zone represents the next significant target, where price action could encounter heavier selling pressure. If momentum continues, a push towards this area would suggest a strong bullish trend.
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Key Indicators:
24h High: $1.637
24h Low: $1.429
SAR (Stop and Reverse): 1.514 — The SAR value suggests that the trend could reverse if price drops below this level. Monitor closely!
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