One hour of panic!
#AGT violently surged close to doubling before crashing, a blood battle at the 0.0059 defense line!
AGT's 1-hour chart experienced a roller coaster ride, violently rising from 0.0035 to 0.0069, and after nearing a double, it significantly retreated to around 0.0059 for fluctuations, forming an extremely long upper shadow, indicating heavy selling pressure above.
Technically, the price has repeatedly tested the key support at 0.0059, which is the dividing line between bulls and bears; if it falls below, it could drop to 0.005 or even 0.0045. The MACD weakened after a golden cross above the zero line, indicating a strong correction pattern.
During the surge, the trading volume was huge, and if there is a pullback with increased volume, it will be unfavorable for the future. In terms of news, such small coins often surge due to project benefits or pump and dump schemes, so caution is needed against unannounced price increases. On-chain speculation suggests that large holders have accumulated at the bottom before pushing the price higher, and they may currently be distributing in batches.
My personal view is that it will oscillate at a high level, with 0.0059 being the lifeline; breaking below turns bearish. It is advisable to stay on the sidelines; aggressive traders can take a small position at 0.0059 for a rebound, with a stop loss below 0.0055 and a target of 0.0065. For highly volatile coins, it's essential to set a stop loss.
Maple has always been analyzing the market seriously, making early arrangements. Friends who want to earn U, why not follow me to create a piece of sky in the crypto world!
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