$RARE Next target analysis:
Based on the current chart and indicators, here’s a short analysis for RARE/USDT to determine the next downside targets:
Key Observations:
1. Resistance Zone:
The price is near its recent high at 0.1387, facing potential resistance.
If the price fails to break above this level and shows signs of rejection, a pullback is likely.
2. Overbought Indicators:
RSI (75.46) is in overbought territory, indicating the possibility of a price correction.
Stochastic RSI is also near its upper limit, suggesting reduced bullish momentum.
3. Support Levels:
Immediate Support: Around 0.1300 (previous consolidation area).
Next Support: 0.1250 (aligned with EMA(99) and a strong psychological level).
Major Support: 0.1158 (recent low and key level of interest).
Short-Term Targets:
If the price starts to retrace:
First Target: 0.1300 (mild support).
Second Target: 0.1250 (stronger support and EMA cluster zone).
Final Target: 0.1158 (recent low, acting as a major support).
Suggested Short Trade Setup:
Entry: Near 0.1380 - 0.1390 if rejection is confirmed.
Stop Loss: Above 0.1400 to limit risk.
Take Profit Levels:
1. 0.1300 (Partial take profit).
2. 0.1250 (Main target).
3. 0.1158 (Extended target if bearish momentum continues).
Risks:
If price sustains above 0.1400, the bearish setup could invalidate, leading to further upside.
