Strategic Suggestions
Short-term Traders:
1. Entry Point:
If the support level holds, consider entering around $0.00390–$0.00400 (oversold stochastic RSI supports this).
2. Profit Target:
First Target: $0.00427 (short-term resistance).
Second Target: $0.00450 (if buying volume surges).
3. Stop Loss: $0.00385 to manage downside risk.
Long-term Investors:
This corrective phase provides an opportunity for those confident in the project's fundamentals to buy on dips.
Gradually accumulate near the support level ($0.00380–$0.00400), with a long-term target to recover to previous highs ($0.00476 and above).
5. Key Market Levels to Watch
Support Level: $0.00385–$0.00400
Resistance Level: $0.00427 (MA7), $0.00450 (psychological level)
Breakout Confirmation: A sustained close above $0.00427 with accompanying volume to validate bullish continuation.
Final Thoughts
The market is in a healthy corrective phase following a round of explosive growth. Oversold indicators (stochastic RSI) and volume dynamics suggest buying opportunities near support. Short-term traders should remain cautious and employ stop-loss strategies, while long-term investors can accumulate for future gains. A breakout above $0.00427 is key to restoring the upward trend. Stay disciplined and closely monitor volume trends.
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