#CEXvsDEX101 #peoplecoin
I think so this would be the perfect time to short on this token📉🩸
Moving Averages: On the daily chart, the 50-day moving average is sloping downward, indicating a bearish trend. The 200-day moving average is also above the current price, acting as a resistance level
Relative Strength Index (RSI): The RSI is currently below the neutral zone (30-70), suggesting that the token is in an oversold condition. This typically indicates that the price may continue to decline or consolidate before any potential recove
MACD: The Moving Average Convergence Divergence (MACD) indicator shows a bearish divergence, which could signal a potential reversal or continuation of the downward trend
Wait for a clear breakdown: If it breaks a key support (e.g., $0.0185) with strong volume, shorting has a stronger case.
Set tight stop-losses: Use a stop above a key resistance or previous high (e.g., above $0.0212).
Consider using leverage cautiously: Only if you’re experienced, and never without a stop-loss.
Monitor volume: If selling volume fades, a reversal might be near.
