$1000CAT has been in a strong downtrend following its initial spike and is now moving into a consolidation phase.
The price is currently trading around 0.05319, forming a tight range between 0.05500 and 0.05050. If the price breaks below the critical support at 0.05050, it is likely to continue its downward momentum toward the next key level at 0.04737.
The lack of significant buying pressure suggests a bearish outlook, and traders should remain cautious while monitoring for a breakout or breakdown.