Based on the 1-hour chart and the current market data, here is a technical trading setup for SPK/USDT.
Since the price is currently at a local resistance level ($0.02151 - 0.02171), you have two primary ways to play this:
Option 1: The Breakout Play (Long)
This is for if the price continues its upward momentum and breaks the current resistance.
Entry: $0.02175 (Buy once a 1-hour candle closes above the recent high).
Take Profit 1: $0.02204 (Previous swing high).
Take Profit 2: $0.02250 (Major psychological resistance).
Stop Loss: $0.02120 (Below the EMA 99/lilac line).
Option 2: The Pullback Play (Long on Support)
Since the RSI is high and the last candle shows some exhaustion, the price might dip to test support before going higher.
Entry: $0.02110 - $0.02120 (This aligns with the EMA 25 and EMA 99 support cluster).
Take Profit 1: $0.02170 (Recent resistance).
Take Profit 2: $0.02204.
Stop Loss: $0.02080 (Below the recent consolidation floor).
