đ CKB: Second Target Reached! Whatâs Next? đ
Hey Guys! $CKB reached the 0.0202 target đŻ after a powerful surge. The price is sitting around 0.0180 now. Letâs break down where we could go next:
đ Price Action Overview:
The price hit a high of 0.0202, and weâre now seeing a healthy correction after a steep rally. This retracement could be a chance for the next leg up if key supports hold strong.
đ Key Indicators:
MACD remains bullish, with MACD line above the signal line, but momentum is slowing down, which could suggest consolidation or a pullback before the next move đ.
RSI: The RSI is sitting at 61, which is still in the safe zone. Thereâs still room for further upside đ.
Volume: A notable increase in volume is a strong sign of interest from the bulls. However, keep an eye on declining volume during pullbacks.
đ Whatâs Next?:
Support Levels: The price is now moving above the 0.0180 level, which corresponds to recent resistance turned support. Below that, the EMA50 at 0.0163 could be the next solid support zone for a potential rebound.
Upside Targets:
TP1: If the bulls regain momentum, we could retest 0.0202 quickly.
TP2: Breaking above 0.0202 opens the door to the next psychological level of 0.0220 đ.
Stop Loss: Consider setting a stop around 0.0160, just under the 50-hour EMA, to manage downside risk if we lose momentum and break key supports.
â ïž Risk Consideration:
If the price breaks below the 0.0160 level, we could see a deeper correction to the 0.0150 zone. However, the overall trend remains bullish as long as we stay above the 50-hour EMA.
đ Final Thoughts:
Patience is key! We may see some sideways action or pullback before the next bullish wave. Watch for confirmation at key support levels before re-entering. Bulls are still in charge, but manage your risk wisely!
How do you feel about CKBâs next move? Are we going to break above 0.0202? Letâs discuss! đŹđ§
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