$SXT has experienced a significant decline, presenting a potential opportunity for entry. The price has plummeted from $0.1642 to a low of $0.1077, reflecting a sharp decrease of -34.4% from its recent peak. This downward movement has eliminated weaker investors and may soon attract those looking to capitalize on a rebound. A new long trade setup is forming, indicating potential for a bounce.
• Entry Zone: $0.1060 – $0.1100
• Target 1 (TP1): $0.1180
• Target 2 (TP2): $0.1270
• Stop-Loss (SL): Below $0.1030
The trading volume for $SXT is substantial at 133.69M, with buyers beginning to enter the market, showing a bid-side dominance of 56.78%. If the support level at $0.1070 remains intact, a short-term rebound may be forthcoming.
Advice: It is advisable to wait for bullish candlestick patterns or a spike in volume before making a purchase. Should $SXT convert $0.110 into a support level, it could trigger a relief rally. It is crucial to manage risk effectively, as dead cat bounces can be quite unpredictable!
