SENT/USDT Trade Setup:
Current Price: 0.02295 USDT
Trend Analysis: SENT is in a downtrend, currently trading below both the 7-period and 25-period moving averages (MA). There was a recent pullback from the higher levels, and the price is now testing the support zone.
Key Levels:
Support: 0.02202 USDT (Recent low point, where the price has bounced)
Resistance: 0.02606 USDT (Price recently faced rejection here)
Trade Setup:
Entry Point: Consider entering a short position at 0.02295 USDT, as the price is currently near the support zone and shows weakness with a lower high pattern.
Stop-Loss (SL): Place your stop-loss at 0.02380 USDT, just above the recent resistance zone.
Take-Profit (TP): Set your take-profit at 0.02202 USDT (the previous low), targeting a further decline.
Risk-Reward Analysis:
Risk: 0.02380 (SL) - 0.02295 (Entry) = 0.00085 USDT
Reward: 0.02295 (Entry) - 0.02202 (TP) = 0.00093 USDT
While the reward is slightly higher than the risk, keep in mind that the downtrend could continue if the support breaks.
Conclusion:
Short Position: Around 0.02295 USDT (Watch for price rejection)
SL: Above 0.02380 USDT (Resistance zone)
TP: Near 0.02202 USDT (Support zone)
This setup takes advantage of the downtrend and aims for a continuation to the downside. Keep monitoring for a breakout or rejection near support.
