🔥 $JELLYJELLY At a Crossroads: Pop or Drop? 📉📈
The market's showing some chop, and it looks like JELLYJELLY is coiling up for its next big move after that volatile May! It's currently holding above key short-term moving averages on the 1-hour timeframe, hinting at some buyer interest.
📊 Trading Outlook:
➡️ Long Play: I'm watching for a convincing break and hold above the 0.0280 resistance. This could be an opportunity for a spot entry or a low-leverage long, with potential sights on the 0.0300 to 0.0320 zone.
🩸 Short Setup: On the flip side, if the price loses the 0.0250 support area (which aligns with the 1-hour MA cluster), a short position, possibly with leverage, could become viable. The next significant support might be found around 0.0230.
Stay vigilant and manage your risk accordingly!
⚠️ NFA/DYOR.
#JELLYJELLY #Altcoin #PriceAction