On the 1-hour chart of VIR/USDT (Virtuals Protocol) on MEXC exchange, we can observe the formation of a bearish triangle pattern indicating a probable continuation of the downtrend.
Technical Analysis:
The coin has formed two significant peaks and is now on a downward trajectory
Current price: 0.54424 with a change of -0.34% in the recent trading session
Breaking the support line around 0.54 could pave the way for further downward movement
Trading Strategy:
Entry price: 0.54424
Price target: 0.05768 (potential profit of 10.58%) with a quantity of 5,768 and position size of 1620.48
Stop loss: 0.02324 (risk of 4.26%) with a quantity of 2,324 and position size of 750
Attractive risk to reward ratio: 2.48
Looking at the indicators, we can observe that the downtrend is gaining strength, and the probability of a downside breakout is very high. It is recommended that traders pay attention to temporary resistances in the downward path and always use a stop loss.
This trading idea is suitable for individuals with moderate risk tolerance, and it is recommended to allocate a maximum of 5% of your capital to this trade. Also, pay attention to the overall market trend and news related to the Virtuals Protocol.
Technical Analysis:
The coin has formed two significant peaks and is now on a downward trajectory
Current price: 0.54424 with a change of -0.34% in the recent trading session
Breaking the support line around 0.54 could pave the way for further downward movement
Trading Strategy:
Entry price: 0.54424
Price target: 0.05768 (potential profit of 10.58%) with a quantity of 5,768 and position size of 1620.48
Stop loss: 0.02324 (risk of 4.26%) with a quantity of 2,324 and position size of 750
Attractive risk to reward ratio: 2.48
Looking at the indicators, we can observe that the downtrend is gaining strength, and the probability of a downside breakout is very high. It is recommended that traders pay attention to temporary resistances in the downward path and always use a stop loss.
This trading idea is suitable for individuals with moderate risk tolerance, and it is recommended to allocate a maximum of 5% of your capital to this trade. Also, pay attention to the overall market trend and news related to the Virtuals Protocol.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.