Action: Long Position
Entry Range: $1.38 - $1.42
Stop-Loss (SL): 1.35
Take-Profit (TP): $1.50 - $1.62
Analysis:
DRIFT has shown an impressive 11.80% increase over the past 24 hours, with a strong trading volume spike of 40.14%, indicating heightened market interest. The price currently consolidates near its daily high of $1.42, signaling potential upward momentum. The tight Vol/Mkt Cap ratio of 31.21% suggests healthy liquidity, while the circulating supply of 269.75M DRIFT keeps the price movement responsive. Look for a breakout above $1.42 for confirmation of the bullish trend. Utilize a tight stop-loss at $1.35 to manage risk, and target the next resistance levels at $1.50 and $1.62.
Alternative (Short Position):
Entry Range: $1.40 - $1.42
Stop-Loss (SL): $1.43
Take-Profit (TP): $1.34 - $1.28
If the price fails to break above $1.42 and shows weakness, a short position could be an opportunity to capitalize on a retracement to $1.34 or lower.
🚨 Note: Trade at your own risk. DYOR (Do Your Own Research).