$PIXEL $PIXEL
PIXEL/USDT: Bearish Pressure Mounts, Potential for Deeper Correction
The PIXEL/USDT chart is currently displaying a bearish trend. The price has broken below the crucial $0.1932 support level, suggesting that a deeper correction may be underway.
Key Support and Resistance:
* Resistance: The immediate resistance level is now around $0.1932, where the price met strong selling pressure previously.
* Support: The next significant support level lies around $0.1808, which could provide temporary relief to the downward pressure.
Entry Strategy:
For cautious traders, waiting for a retest of the broken support level at $0.1932 could offer a low-risk entry point to short PIXEL. This would allow traders to capitalize on further potential downside. More aggressive traders could consider entering a short position at the current price, with a stop-loss placed above the recent high.
If the bearish momentum persists, a deeper correction towards the $0.1808 support level could be on the horizon. However, it's important to monitor market developments closely, as the price action could shift rapidly. Stay tuned for further updates!
