$SNT SNT/USDT: Key Insights and Price Action

📉 Current Price: $0.04232 (-6.23%)

🔺 24H High: $0.04772

🔻 24H Low: $0.04107

📊 24H Volume: 192.68M SNT

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Market Analysis:

The price of Status Network Token (SNT) has faced a pullback, falling by over 6% in the last 24 hours. Despite recent attempts to break higher, resistance at $0.04772 proved strong, leading to selling pressure and a drop below $0.0425.

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Key Support and Resistance Levels:

🔸 Support Levels:

$0.04100: Immediate support; a critical level to hold.

$0.04030: Key structural support, marking a recent low.

🔸 Resistance Levels:

$0.04350: Immediate resistance; breaking above could shift momentum.

$0.04772: Major resistance zone; a breakout here could lead to stronger upside.

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Potential Scenarios:

1️⃣ Bullish Case:

If SNT sustains above $0.04100 and breaks $0.04350, it could rally toward $0.045 or even retest the $0.04772 level.

2️⃣ Bearish Case:

Failure to hold $0.04100 may see SNT retesting $0.04030, with a potential for further downside if market sentiment weakens.

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Technical Indicators:

Volume Analysis: Increasing sell volume suggests bearish sentiment dominates for now.

EMA Trends: SNT is trading below key moving averages, indicating short-term bearish pressure.

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Pro Tips for Traders:

For Buyers: Look for a confirmed bounce at $0.04100 or $0.04030 before entering. Watch for a breakout above $0.04350 for confirmation of bullish momentum.

For Sellers: Consider shorting near $0.04350, targeting $0.04100 or lower, with tight stop-losses above $0.04500.

Stay cautious and monitor the broader crypto market sentiment! 🚀

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