Price Structure $BANANAS31
$BANANAS31 An extraordinary rally from 0.005250 to 0.017160 (+226% in 3 days).
Currently, the price is consolidating after touching resistance at 0.017160.
There is a doji or long lower wick candle, indicating potential selling pressure is emerging.
š„ Volume and Market Sentiment:
High and stable volume (50.33B volume BANANAS31).
Order book: Buy 53.28% vs Sell 46.72% ā still buyer dominant, but starting to approach neutral.
Momentum looks strong, but starting to become overbought based on the last candle.
š§ Technical Analysis and Strategy:
ā Bullish Scenario (continuation):
If it breaks above 0.0172 with large volume, potential target to:
ā 0.0185 ā 0.0200
Aggressive entry: when the 4-hour candle closes > 0.0172
SL: below 0.0150
ā ļø Correction Scenario (short-term possibility):
If it fails to breakout and breaks down MA(7) (ā0.0144), then:
ā Correction target: 0.0135 ā 0.0103
Speculative short entry: close below 0.0144
Tight SL: 0.0158
Target: 0.0135 ā 0.0118
š Conclusion $BANANAS31
BANANAS31 is currently in a parabolic run phase, but is now showing signs of potential overbought conditions. It is important to wait for confirmation from the next 4-hour candle ā whether it will continue to breakout or start to breakdown towards support.