Market Analysis:
Post-Pump Correction & Support Watch
Current Price: $0.2448 (Up 2.51% today, down 12.13% in 7 days)
Key Observations:
* Significant Spike & Correction: The chart shows a strong pump that took the price from around $0.21 to a 24h high of $0.3000 on July 7th. This was followed by a sharp correction, with the price now consolidating around $0.24-$0.25.
* Volume Activity: High volume accompanied
oth the pump and the subsequent large red candles, indicating significant trading activity.
* Moving Averages: The price is currently below the MA(7) of $0.2560, suggesting short-term bearish pressure, but still above the MA(25) of $0.2321.
What's Next?
Monitor for a potential bounce if the $0.23-$0.24 area acts as support, or if the correction deepens towards the 24h Low of $0.2359. Volatility remains.