$PROVE /USDT – Market Analysis
PROVE has seen significant volatility in the last 24 hours, dropping over 13% from its local high of $1.2538 to a low of $0.9919, before stabilizing near $1.0228.
🔍 Key Observations:
High Selling Pressure: A sharp decline suggests aggressive profit-taking after a strong recent rally.
Support Zone: The price bounced from the key psychological level near $1.00, showing buyer interest.
Resistance Levels: Immediate resistance stands at $1.0940 and $1.1517. Bulls need to reclaim these zones for a trend reversal.
Volume Surge: Over $95M in USDT volume highlights high trader activity—ideal for short-term trades but risky for late entries.
📉 Short-Term Outlook: If $0.9919 holds as support, a rebound towards $1.09 and $1.15 is possible. However, if it breaks below $0.98, further downside toward $0.94 or lower may follow.
⚠️ Strategy Tip: Watch for a strong 4H candle close above $1.05 with rising volume for bullish confirmation. Avoid entries during high volatility without confirmation.
