Attention, crypto-warriors! 🚨 Let's take a look at
$RED /USDT, which today shows a -5.51%. A small correction that needs to be analyzed closely! 📉
The current price is at $0.3841, below its 24h high of $0.4099. The 24h low was $0.3700, a crucial level that could act as support if the bearish pressure continues!
If we look at the moving averages, MA(7) is at $0.3799 and MA(25) is at $0.3810. We are slightly above both, which could indicate an attempt to bounce back in the short term, but it is a zone of much indecision. The MA(99) at $0.3881 is the key resistance to overcome to change the outlook!
The volume of RED in 24h is 5.34M and that of USDT is 2.06M. The volume is not very high, suggesting that this correction movement may not have overwhelming strength, or that it is simply a pause before a larger movement.
The order book shows a dominant supply (89.08% supply), which means there are more sellers than buyers at this moment. This is where manipulation can come into play! Big players could be selling to push the price down and then buy cheap, or simply creating a "scare" for retail investors to sell. Be very careful with this! Don't panic if you see sharp movements; it could be a trap.
What can we expect? RED is in a possible consolidation zone. If it manages to hold above $0.3700, we could see an attempt at recovery. However, if it loses that support, things could turn more bearish.
For traders, patience is vital. Looking for confirmation that support holds or a breakout with volume above MA(99) would be ideal. Remember, in these moments of indecision, manipulation seeks to generate doubts for its own benefit! HODL with wisdom or trade with strategy!
Stay alert and manage your risk with a cool head!
#RED #InfraestructuraBlockchain #CriptoTrading $SHIB $LTC