📉 Price Action Analysis

Current Price: $0.04897

Recent Drop: The price recently dropped sharply from ~$0.0529 to a low of $0.04832, indicating strong selling pressure.

Last Candle: Shows a small-bodied candle with a long lower wick (possible rejection of lower prices, signaling a temporary bounce or support).

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📊 Indicators

1. Moving Averages (MA)

MA(7): 0.050631 (short-term trend)

MA(25): 0.051736 (medium-term trend)

MA(99): 0.052420 (long-term trend)

Price is below all moving averages → Bearish signal.

2. RSI (6): 4.38

Extremely oversold (below 30 is oversold; below 10 is extreme).

Could suggest a possible short-term bounce or dead cat bounce, but not a reversal confirmation.

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📅 Performance

Today: -7.40%

7 Days: +31.72%

Despite today’s drop, the 7-day performance is still strongly positive.

This might indicate volatility rather than a long-term trend shift.

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🧠 Trading Tips

✅ If you are considering buying (long):

Wait for confirmation of reversal (green candle + RSI rising above 10–15).

Look for a break back above MA(7) or MA(25) for short-term bullish confirmation.

Tight stop-loss below the low at $0.04832.

❌ If you are considering selling (short):

May be too late to enter now after a steep drop; risk of short squeeze or bounce.

Ideal short entries were around $0.051–$0.052.

Wait for a bounce to MA(7) or resistance to consider short entry again.

⚠️ Be cautious:

Extremely low RSI could invite whale buy-ins or market maker bounces.

Don't chase the move. Let the market decide the next direction.

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📌 Suggested Strategy

> Wait-and-watch or scalping strategy may work better than trend-following here due to extreme oversold conditions and likely rebound attempts.