1000SATS breaks critical support, can it make a comeback?
Market Analysis:
1000SATS has recently experienced a steep decline, with strong bearish sentiment, and the market appears unusually weak. However, as the price enters the oversold territory, low-level funds may gradually flow in, igniting hopes for a short-term rebound.
Support and Resistance Levels:
• Support Levels: 0.0001710, 0.0001650, 0.0001580
• Resistance Levels: 0.0001900, 0.0002000, 0.0002100
Short-term Trading Strategy:
Long Position Strategy:
• Entry Point: 0.0001750
• Add Position Point: 0.0001700
• Stop Loss Point: 0.0001580
• Take Profit Targets: 0.0001900, 0.0002000, 0.0002100
Short Position Strategy:
• Entry Point: 0.0001900
• Add Position Point: 0.0002000
• Stop Loss Point: 0.0002150
• Take Profit Targets: 0.0001750, 0.0001700, 0.0001650
My Prediction:
Bullish. Although there is still downward pressure in the short term, from a technical indicator perspective, 1000SATS is severely oversold, and bottom-fishing funds may intervene at any time, making a short-term rebound likely.
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