Today’s analysis – SLPUSDT – trading towards its range low with possible accumulation,
Points to consider, - Price Action Corrective - Range Low Support - Range High Resistance - Low Volume - RSI Bearish Control Zone
SLPUSDT’s immediate price action is trading towards its range low where there is technical confluence with an order block, allowing for a bullish bias.
The range high is the immediate resistance, exceeding this level will lead to a trend continuation, the break however needs to be backed with increasing volume.
The RSI is currently trading in its bearish control zone, reclaiming the mid-point will be indicative of strength.
Overall, in my opinion, SLPUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Trading effectively is about assessing probabilities, not certainties.” ― Yvan Byeajee
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.