$INIT
Current Overview
Price: $0.5888
Trend: Short-term downtrend after a peak at $0.6085.
24h Range: $0.5431 – $0.6184
RSI(6): 42.64 (Neutral to Slightly Oversold)
MACD: Slightly bearish (MACD line below Signal line, histogram in red)
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Suggested Trade Setup
Entry Point (Buy):
$0.575 – $0.580
Reason: This is near a short-term support level, slightly above the 24h low. If the price retests and holds this zone, it signals buyer interest.
Stop Loss:
$0.543
Reason: Below the 24h low and a key support zone. If it breaks, further downside is likely.
Take Profit:
$0.608 – $0.615
Reason: Previous resistance area and recent high before price rejection. Likely to face selling pressure again there.
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Risk/Reward Ratio:
Risk: $0.575 - $0.543 = $0.032
Reward: $0.608 - $0.575 = $0.033 (or higher if it hits $0.615)
Close to 1:1, but you can trail stop if price shows strength to maximize profit.
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Trade Conditions:
Only enter if price pulls back to $0.575–0.580 with decreasing sell volume or bullish reversal candle (e.g., hammer or engulfing).
If RSI drops below 30 with price holding support, that could add confidence.
