Technical analysis of SIGN coin: Are we ready for a new rally after the correction?
Technical data
Strong price movement:
The coin sharply rose from 0.06660 to 0.13310 (an increase of almost 100%), indicating a liquidity pump or a sudden positive news.
Correction after the rise:
After reaching the peak, the coin started to gradually decline, but it is now stabilizing around 0.10540, which is a potential new support level.
Formation of a new base:
In recent hours, we observe horizontal consolidation (sideways movement), which may indicate:
• Accumulation before a new upward movement.
• Or weakening momentum and the end of the upward wave.
Trading volume:
The trading volume is high (2.22 billion SIGN in 24 hours), indicating significant interest at the moment.
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Support and resistance levels:
• Nearby support: 0.10500 then 0.09250
• Nearby resistance: 0.10720 then 0.12180
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Initial technical recommendations (not financial advice):
• If you are in the trade: Monitor the level of 0.105; breaking it may indicate a continuation of the decline.
• If you are considering entering: Wait for a breakout of the resistance level 0.1072 with a strong candle closing above it to confirm a new rise.
• Use a stop loss below 0.09250 to reduce risks.
