The short-term outlook for the NEWT token is worrying: deteriorating technicals, bears dominate the market, a reversal awaits significant positive news
The current market performance is indeed concerning, and I am very pessimistic about its short-term trend. The price has directly fallen below the lower Bollinger Band, and key indicators such as Supertrend and Parabolic SAR are all in bearish alignment. Several rebounds have been severely suppressed by the resistance level at $0.4770.
On-chain liquidity is down to $298,000, and a few large sell orders can easily crash the price. If the support level at $0.4470 is lost, programmatic stop-loss orders will flood the market, and the price will likely head straight for $0.4300, possibly even dropping to the previous low of $0.38.
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