$PEOPLE TRAP
Analyzing the chart for $PEOPLE:
1. Current Price and Recent Trend: The current price is $0.08558, showing an increase of 11.53%. The chart shows a recent bullish trend with a significant spike.
2. Moving Averages:
- MA(7): $0.04519
- MA(50): $0.02359
- MA(100): $0.02323
The current price is above all these moving averages, indicating strong upward momentum.
3. Support and Resistance Levels:
- Support: Around $0.050-0.065 (near the blue highlighted area).
- Resistance: The recent peak at $0.09766.
4. Potential Trap: The sharp rise could indicate a potential bull trap, where prices rise quickly but may fall just as rapidly.
Overall, while the trend looks bullish, caution is advised due to the possibility of a reversal. The support level will be consider ~0.055. Beware.