G UPDATE đš My previous analysis predicted a potential range-bound scenario, a bullish breakout, or a bearish downturn for G, the native token for Gravity and the Galxe ecosystem đ€. And what a ride it's been! đ
G initially broke above the immediate resistance levels of $0.06173 and $0.06348, reaching a high of $0.06600 đ, but failed to break the second major resistance level at $0.06700 đ«. This move aligned partially with my bullish scenario, but the inability to clear the $0.06700 level hinted at underlying weakness đ€.
Later, $G encountered selling pressure, falling below the immediate support levels of $0.05944 and $0.05745, and reaching a low of $0.05000 đ, which is within the predicted range of $0.05000 - $0.04500 if G breaks below the major support levels of $0.05500 and $0.05300 đ.
This downward move aligns with my bearish scenario, highlighting the importance of watching key support and resistance levels closely đ. The current price action presents both opportunities and challenges đ€. Traders must stay alert, adapt to changing market conditions, and manage risks effectively đĄ.
My analysis played out like a script, with G's price movement dancing between the predicted support and resistance levels đ. Whether you're a seasoned trader or a newcomer to the crypto space, understanding market dynamics is crucial for making informed decisions đ. Stay sharp, and happy trading! đđđ°