Current Price: About $0.03238 after a slight correction from the peak of $0.03616.
Moving Averages: MA7 is greater than MA25 which is greater than MA99, indicating a medium-term upward trend despite the short-term pullback. The price is currently below MA7 at about $0.03449 but above MA25 at about $0.03352 and MA99 at about $0.03333.
Support and Resistance:
First resistance is between $0.03527 and $0.03616.
Main support at $0.03352 and secondary support at $0.03296.
Bullish Scenario: A breakout above the level of $0.03450 to $0.03460 with high trading volume targeting $0.0353 then $0.03616.
Bearish Scenario: A break below the level of $0.03400 or MA25 could push the price down to $0.0335 then $0.0329.
Technical Analysis: A broken descending wedge pattern appears, indicating the possibility of a rise towards $0.043 to $0.047 by mid-August.
If the peak of $0.0432 is broken with strong trading volume, the price may reach $0.055 then $0.06.
Trading volume is very high, exceeding $500 million after the launch, which increases price volatility.
Major investors sold heavily after the peak, but continued buying may support the upward trend.
Recommendation:
Buy at $0.0345 to $0.0346 with good trading volume and take profits above $0.0353.
If the price breaks $0.0335 and closes below it on the hourly chart, a stop loss should be set to prevent a potential drop to $0.0329.
Trading within the range of $0.0329 to $0.0362 is suitable for short-term speculators.
Forecasts:
Forecasts for the next 48 hours indicate the possibility of testing the range of $0.035 to $0.036, with downside risk if support at $0.034 to $0.0335 fails.
Forecasts until the end of August, if the breakout occurs, we may see a rise towards $0.043 to $0.047.
Tips:
Risk management is recommended, not to exceed 3% of capital in a single trade, and to follow news about token launches or currency listings on new platforms.
$TOWNS #TOWNS $TOWNS #TOWNSBreakout #CryptoIn401k
