Action: SELL
Target Profit Levels (TP):
TP1: $0.031800
TP2: $0.030500
Stop Loss (SL): $0.036000
Analysis and Rationale:
Price Trend: $REZ is showing consistent bearish momentum, with a -8.17% drop in the last 24 hours and a significant decline over the past 30, 60, and 90 days.
Resistance Levels: The 24-hour high of $0.036879 indicates strong resistance around $0.037, which could act as a ceiling for short-term price recovery.
Support Levels: The 24-hour low of $0.032451 suggests the market is testing new lows, and a break below this could lead to further downside.
Momentum Indicators: Despite a slight 1.31% gain in the last hour, overall bearish sentiment prevails.
Market Conditions: The high trading volume ($24.39M) supports liquidity for short trades, while the declining market cap indicates weakening investor confidence.
Recommendation:
Initiate a short position with caution and manage your risk using the specified stop loss. If the price hits TP1, consider scaling out a portion of the trade and holding the remainder for TP2.
Note: I am not your paid adviser, DYOR!👀
