$CGPT / USDT – Sharp Pullback After Recent Peak – Finding Support? 🤔
$CGPT / USDT is currently trading at $0.0856, down significantly by -6.04% today. The 4-hour chart shows a strong upward move culminating around $0.0948, followed by a sharp retracement. The price is currently near the 24-hour low of $0.0851.
🧐 Potential Trading Scenarios:
* Support Level: The $0.085 zone appears to be acting as immediate support, aligning with the 24-hour low. Watch if this level holds.
* Retracement Depth: The current pullback is substantial, testing the strength of the recent bullish momentum.
* Potential Consolidation: We might see a period of consolidation around this level as the market digests the recent volatility.
📈 Potential Long Entry (If Support Holds): Consider entering around the $0.085 level with a stop loss placed just below $0.0845. Initial targets could be the previous swing highs around $0.088 and then $0.090.
📉 Potential Short Entry (If Support Breaks): If the $0.085 level fails to hold, a short entry targeting lower support levels (e.g., around $0.083 or lower) could be considered.
⚠️ Outlook:
CGPT/USDT has experienced a strong pump and is now undergoing a significant correction. The price action around the $0.085 support level will be crucial in determining the next direction. Monitor volume and candlestick patterns for confirmation. Always practice sound risk management.
CGPTUSDT · Binance
0.0856 -0.0010 (-1.15%) (based on the last 4 hours)
