$API3 /USDT- Bearish has experienced a decline, breaking below key support levels. The current price is $0.7936, with an intraday low of $0.7543. A sustained move below $0.770 could indicate further downside risk.
Fibonacci Levels:
The 61.8% retracement level at $0.770 has been breached, suggesting a potential continuation of the downtrend. Next support levels are at $0.747 and $0.741. Resistance is observed around $0.786 and $0.800.
RSI:
The 14-day Relative Strength Index (RSI) is currently at 29, indicating that the asset is in oversold territory. This suggests a potential for a short-term rebound, but caution is advised as the overall trend remains bearish.
Entry Zones:
Safer: Consider entering near the $0.741 support level, with confirmation of a bullish reversal.
Aggressive: A breakout above $0.800 could provide an opportunity for a long position, targeting higher resistance levels.
Take-Profit Zones:
TP1: Target the $0.786 resistance level.
TP2: Aim for the $0.800 resistance level.
Stop-Loss Ideas:
Conservative: Place a stop-loss below $0.741 to limit potential losses.
Tight: Set a stop-loss just below $0.754 to protect against further downside.
