UPDATE ON PROVE ANALYSIS🔥
The PROVE token, currently trading around $1.17, shows signs of consolidation after an explosive market debut, with an all-time high near $1.50. Technically, the key support is around $1.14, a level confirmed by the volume-weighted average price (VWAP), a critical area to maintain bullish momentum. Immediate resistance is positioned around $1.36-$1.40, which, if surpassed, could open the way to subsequent targets between $1.70 and $1.75.
For a trade, we suggest entering near the current price of $1.17, with take profit at $1.70-$1.75$ to capitalize on the possible continuation of the bullish trend post-launch. The stop loss should be set below the support at $1.12-$1.14$ to protect against a deeper correction.
The concentration of tokens in the hands of major holders and the lock-up of emissions until 2026 reduce the risk of significant dumping, while the high volume indicates solid interest. Monitoring volumes and key levels is essential to manage risk in a still volatile market.
Always operate with low leverage and always set a stop loss.
