Current Price: $0.2919

24h High: $0.3229

24h Low: $0.2895

Trend: Bearish (-8.75%)

Technical Overview

1. Support Levels:

Primary Support: $0.2895

Secondary Support: $0.2750

2. Resistance Levels:

Primary Resistance: $0.3000

Secondary Resistance: $0.3229

3. Indicators:

RSI: Oversold zone (~30), indicating a potential bounce.

Moving Averages: Below the 50 EMA, confirming a bearish momentum.

Volume: 24h volume shows active trading but biased towards selling pressure.

Trade Signal

Trade Setup:

Entry: $0.2920-$0.2950 (near current price)

Stop-Loss: $0.2850 (to minimize downside risk)

Targets 🎯:

1. Target 1: $0.3000 (short-term recovery)

2. Target 2: $0.3120 (mid-term resistance)

3. Target 3: $0.3229 (24h high and major breakout zone)

Trade Momentum:

The trend is currently bearish, but RSI indicates a potential short-term reversal. If PHA holds above $0.2895, a recovery toward $0.3000-$0.3120 is likely. However, if the price breaks below $0.2895, expect further downside to $0.2750.

Risk/Reward Ratio: Favorable (~2:1 for the suggested targets).

Recommendation:

Aggressive Traders: Enter near $0.2920 and book profits at each target level.

Conservative Traders: Wait for confirmation above $0.3000 before entering the trade.

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