$1000CAT Analysis: Downtrend Continues, Key Support in Focus
$1000CAT is trading at $0.04584 on the 15-minute chart, showing a clear downtrend with sellers in control. The price is testing critical support, and a bounce or breakdown will determine the next move.
Trade Setup:
Long Entry: Above $0.04670, targeting $0.05057 and $0.05671.
Short Entry: Below $0.04528, looking for $0.04444 and $0.03918.
Stop Loss: Place a stop loss at $0.04600 to limit risk.
Market Insight:
Selling pressure remains strong, reflected by consecutive red candles and declining moving averages. A move above $0.04670 could signal a recovery, while a drop below $0.04528 may trigger further declines.