$STO Range Trap or Launchpad? Bulls Need a Breakout Above Resistance
STO is trading at $0.0897, down -8.93% on the day. After facing a sharp rejection near the $0.0905 level, it’s now consolidating in a tight range. While volume is steady, a decisive move is needed to shift momentum.
Key Price Levels
• Immediate Resistance Zones:
• $0.0905 – Previous high and rejection level
• $0.0915 – Short-term breakout target
• $0.0930 – Open air for trend continuation
• Support Zones:
• $0.0890 – Current range support
• $0.0878 – Minor bounce level
• $0.0855 – Key structure for bullish invalidation
Potential Trade Setup
• Long Entry: Break and hold above $0.0905
• TP1: $0.0915
• TP2: $0.0930
• TP3: $0.0950
• SL: Below $0.0885
• Short Entry: Drop below $0.0888 with confirmation
• TP1: $0.0878
• TP2: $0.0862
• TP3: $0.0845
• SL: Above $0.0905
STO is stuck between strong rejection and minor support. If buyers can reclaim $0.0905, a bullish continuation is possible. However, failure to hold $0.0890 could invite deeper downside.
Next move will be key – breakout or breakdown incoming. Stay alert.