Trade Analysis 47: $SUN - When to Enter?!
SUN had a 106% rise since its initial launch on August 22nd. However, the price quickly dropped 32% to the $0.029 level, followed by a second low at this level, reinforcing the support at this point.
Today, the price rose slightly to $0.037, but it doesn't seem like a sustained rise given the current bearish market sentiment.
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For those with a long-term positive outlook on SUN, here are a few possible scenarios for entering the market in the coming days:
1. Buy the Dip: If the price drops back to $0.029 with lower volume and a higher RSI, consider buying the dip. This level currently offers strong support. However, if the price breaks sharply below $0.029, you might look for entry points around $0.022 or $0.019.
2. Chase the High: If the price continues to rise above $0.037 with higher volume and a higher RSI than the initial rise to $0.037, consider jumping in to ride the bullish wave.
3. Wait: If the price continues to consolidate between $0.029 and $0.037, it might be better to wait for a clear breakout before entering.
That's it for today $SUN Trade Analysis. I hope this analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
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