T is Bearish
High and Drop
š Key Technical Insights:
Recent High & Drop:
The token spiked to $0.01858, then dropped back to $0.01650.
This is a quick retracement of ~11.2% from the high.
Support Zones:
First support: Around $0.01550 ā this coincides with the previous consolidation and moving averages (yellow and pink lines, MA(7) and MA(25)).
Second support: Around $0.01450 ā $0.01480, where MA(25) is currently positioned.
Third/deeper support: Around $0.01368, which was the recent low before the pump.
Volume Spike:
Very high volume during the pump indicates interest, but the following red candle suggests some profit-taking or potential resistance.
š How Much Can It Fall?
Mild retracement: To $0.01550 (6% drop from current price).
Moderate pullback: To $0.01450 (12% drop).
Full retrace to pre-pump level: To $0.01368 (17% drop).
If selling pressure increases and no further bullish news or volume sustains, it could fall back to the $0.01368 zone.
ā ļø Things to Watch:
If it fails to hold above $0.0155, further downside is likely.
Watch for volume ā if it dries up and red candles dominate, the selloff could deepen.
Set stop-loss levels based on your risk tolerance.
