STMX 📢
Coin is particularly interesting because, after a long downtrend, it is currently bouncing off local bottom levels. Since mid-June, it has been showing a decent upward momentum, which is now undergoing a correction and may provide good entry points. ✅
Analyzing the levels and order book gives an approximate picture of future price behavior. Given that the price is currently trapped between clusters of orders at local resistance and a block of support levels, we can expect a correction to this level with a possible preliminary bounce to local resistance. However, the local support level is also quite strong. 📌
Therefore, the trading idea is as follows (SPOT) : 🔵
1️⃣ Buy at the current price or place an order at 0.00845.
2️⃣ Second buy at 0.00712.
3️⃣ First target for closing half of the position is 0.009653. Two additional targets are 0.010873 and 0.012937.
4️⃣ Stop-loss at 0.005884.
However, these are not all the targets. The fact is, in the medium term, the coin might start rising rapidly since a clear bullish trend is forming on the weekly chart. Targets for this trend include new local and medium-term highs. Therefore, it makes sense not to close the entire position at the third target but to leave about 1/4 of it for the continued growth. 💸
Coin is particularly interesting because, after a long downtrend, it is currently bouncing off local bottom levels. Since mid-June, it has been showing a decent upward momentum, which is now undergoing a correction and may provide good entry points. ✅
Analyzing the levels and order book gives an approximate picture of future price behavior. Given that the price is currently trapped between clusters of orders at local resistance and a block of support levels, we can expect a correction to this level with a possible preliminary bounce to local resistance. However, the local support level is also quite strong. 📌
Therefore, the trading idea is as follows (SPOT) : 🔵
1️⃣ Buy at the current price or place an order at 0.00845.
2️⃣ Second buy at 0.00712.
3️⃣ First target for closing half of the position is 0.009653. Two additional targets are 0.010873 and 0.012937.
4️⃣ Stop-loss at 0.005884.
However, these are not all the targets. The fact is, in the medium term, the coin might start rising rapidly since a clear bullish trend is forming on the weekly chart. Targets for this trend include new local and medium-term highs. Therefore, it makes sense not to close the entire position at the third target but to leave about 1/4 of it for the continued growth. 💸