Given the sharp and rapid bullish move and a 638% rally without any time correction, along with reaching a supply zone, we expect a price rejection from the red box area toward the green zone.
Tokens like this, when they pump this hard and reach major supply zones, often present short opportunities. However, one should not ignore the high funding rate on such tokens, as most traders are in short positions, which significantly raises the funding rate. Therefore, make sure to evaluate all conditions and risks before entering any position.
A daily candle close above the invalidation level would invalidate this outlook.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You