Closing Price: $0.888
Daily Change: −3.16%
Volume: 569.34K
🔧 Technical Indicators:
EMA 25: $0.852
Bollinger Bands (SMA 25):
Upper Band: $0.944
Middle (SMA): $0.857
Lower Band: $0.770
🔍 Key Observations:
Price Below EMA & Middle BB:
The price is slightly above the EMA 25 but still below the middle Bollinger Band, indicating weak bullish momentum after a recent decline.
Sideways Consolidation:
After dropping from ~$0.92, the price is now consolidating between $0.80 and $0.89, signaling market indecision.
Support Zone Near $0.80:
Multiple candles show buying pressure near the $0.80 mark (long lower wicks), indicating a potential support zone.
Decreasing Volume:
Volume has declined after the spike on May 9, indicating a potential breakout could be building up.
🎯 Trading Strategy
📈 Bullish Scenario (Long Entry)
Conditions to Enter:
Price closes above $0.90, breaking the local resistance zone.
Look for increasing volume to confirm the breakout.
Entry Zone: $0.90–$0.91
Target 1: $0.92 (recent swing high)
Target 2: $0.944 (upper Bollinger Band)
Stop Loss: Below $0.86 (just under EMA 25)
Trade Notes:
Add size only if breakout is supported by volume.
Watch for rejection wicks near $0.92 (take partial profit if needed).
📉 Bearish Scenario (Short Opportunity or Exit from Long)
Conditions to Enter Short:
Price closes below $0.80 with strong red candle and high volume.
Breakdown from support zone confirms bearish strength.
Entry Zone: $0.79–$0.78
Target 1: $0.77 (lower Bollinger Band)
Target 2: $0.74–$0.72 (previous support area)
Stop Loss: Above $0.83
Trade Notes:
Ideal for short-term traders or hedging.
Wait for confirmation (avoid jumping in on just a wick).
🧠 Final Thoughts:
🔄 The chart is currently in a neutral-to-bearish phase, consolidating near support.
⚠️ Avoid impulsive entries — wait for confirmation with price action and volume.
📆 Consider upcoming macro events or $BTC movements, as they often influence altcoins like $MTL .