Support and resistance levels
1. Resistance levels:
First resistance (R1): $0.09249 (recent swing high).
Second resistance (R2): $0.11929 (24-hour high, strong resistance).
2. Support levels:
First support (S1): $0.06176 (middle Bollinger band and consolidation zone).
Second support (S2): $0.05275 (24-hour low, important support).
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Entry points for short and long positions
1. Entry for long position:
Enter around $0.06200–$0.06400 if the price consolidates around the support zone or shows bullish signals such as higher lows or strong volume.
Confirmation indicators: bullish engulfing candle or RSI oversold conditions.
2. Entry for short position:
Enter around $0.09200–$0.09400, a recent deviation level. Look for bearish confirmation such as a double top or RSI overbought conditions.
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Target and stop-loss
1. Long position:
Target: $0.07450 (medium-term), $0.09200 (long-term).
Stop-loss: $0.06000 (below support).
2. Short position:
Target: $0.06500 (middle Bollinger band) or $0.06200 (lower Bollinger band).
Stop-loss: $0.09600 (above resistance).
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Market analysis
1. Technical indicators:
Bollinger Bands: price is pulling back from the upper band, indicating a possible return to the mean towards the middle or lower band.
MA (moving averages): short-term moving average is tilted upwards, indicating recent bullish momentum.
Volume analysis: a volume spike occurred around $0.09249, indicating seller resistance at this level.
2. RSI and momentum:
RSI has likely shifted from overbought levels due to the recent price drop. If it approaches oversold, wait for a reversal signal.
Attention:
Watch for sudden changes in market sentiment as this coin has experienced high volatility (+28% in 24 hours).
Use trailing stop-losses to lock in profits in case of unexpected reversals.
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