1. Market Conditions:
Bearish Sentiment: If the market is bearish and $CELO continues to fall, consider selling or setting a stop loss at a recent low (e.g., around $0.60 or lower).
Bullish Sentiment: If the market is bullish or there’s positive news, buying at current levels around $0.6879 might be a good opportunity.
2. Entry Point:
Entry Point: If you decide to buy, a reasonable entry point is $0.6879 or a bit lower, especially if the price shows signs of support around this level (e.g., bouncing off a recent low).
3. Stop Loss:
A stop loss should be set below the recent support level to limit risk. Consider setting it around $0.65 to $0.62, depending on your risk tolerance. This helps protect against further downside if the price breaks lower.
4. Target:
Target: A reasonable short-term target could be $0.75 or $0.80, depending on the overall market sentiment and the resistance levels. For longer-term gains, targeting $1 or higher could be reasonable, but it depends on the broader market trends.
Example Trade:
Entry Point: $0.6879
Stop Loss: $0.65
Target: $0.75 (short-term) or $1 (long-term)
This strategy assumes you're looking for a balance between risk and reward based on current market conditions.
