MBL/USDT Chart Analysis - 30 Minute Frame
$MBL is currently in a downtrend on the lower timeframe, trading below the 200 EMA. After a pullback, the price maintained the support level and then broke out.
Currently, the price is retesting the support zone and is expected to continue to decline, maintaining downward momentum. The target is set at the previous low.
Entry: $0.00274
TP: $0.00257
SL: $0.00287
Analysis Summary:
Trend: Downtrend
Indicator: Trading below the 200 EMA
Price Action: Break of support, retest of support zone
Motivation: Reduced
Target: Previous low
Recommendations:
Considering the current trend and price action, it is recommended to enter a trade at $0.00274 with a target of $0.00257, setting a stop loss at $0.00287 for effective risk management.
