📊 $STRAX /USDT Technical Analysis - Bearish Correction! 📊

Current Price: $0.07418 (-11.56%)

24h High: $0.08660

24h Low: $0.07265

$STRAX /USDT has experienced a -11.56% decline in the last 24 hours, trading at $0.07418. After reaching a 24-hour high of $0.08660, the price has pulled back towards the $0.07265 support level.

Key Levels to Watch:

Support Levels:

0.07265

0.07173

0.05717

Resistance Levels:

0.07418

0.08628

0.09885

Volume Analysis:

24h STRAX Volume: 161.14M

24h USDT Volume: 12.74M

The relatively high volume suggests active market participation, with substantial selling pressure driving the price down from recent highs.

Depth Analysis:

Bid Depth: Strong support appears at 0.07173, which could help stabilize the price in the short term.

Sell Depth: Resistance levels around 0.07418 and 0.08628 could act as barriers to any recovery, especially if the price faces continued downward pressure.

Short-Term Outlook:

Bearish Trend Continuation: The -11.56% decline suggests that the market is in a corrective phase. If 0.07265 is broken, we may see further downside towards 0.07173 or lower.

Potential Rebound: Any upward momentum would need to break through 0.07418 and 0.08628 resistance to signal a recovery.

Conclusion: STRAX/USDT is undergoing a bearish correction, and the market needs to hold support levels at 0.07265 and 0.07173 to avoid further declines. Keep an eye on resistance zones for a potential rebound.

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