$PLUME Technical Analysis – Oversold Zone After Sharp Drop.
1. Price Action.
Last Price: 0.08122 USDT (≈ Rs 23.04)
24h Change: -6.14% → showing bearish pressure.
24h High: 0.08817
&
24h Low: 0.07979
Recent sharp spike to 0.10350, but quickly rejected and followed by continuous red candles.
2. Volume Analysis.
24h Volume (PLUME): 292.59M.
24h Volume (USDT): 24.27M.
Big green volume spike earlier (pump), but declining volume in red candles shows selling pressure is slowing down → possible stabilization.
3. Moving Averages (MA).
MA(5): 39.66M
&
MA(10): 66.96M
Short-term MA below long-term MA → confirming bearish momentum.
Price trading below both MAs → weakness continues unless buyers step in.
4. Relative Strength Index (RSI).
RSI(6): 25.80 → Oversold zone (below 30).
Indicates price may be near a short-term bounce/reversal level, but still risky if selling continues.
5. Key Support & Resistance.
Immediate Support: 0.07979 (24h low).
Strong Support: 0.07200 (recent swing low before bounce).
Immediate Resistance: 0.08817 (24h high).
Strong Resistance: 0.10350 (recent rejection top).
6. Trend Overview
Overall short-term trend is bearish after pump-and-dump style move.
RSI oversold + stabilizing candles suggest possible accumulation before the next move.
7. Possible Scenarios
Bullish Scenario: If the RSI rebound continues and price breaks 0.08817, it could test 0.095–0.1035 again.
Bearish Scenario: If the price fails to hold 0.07979, it may retest 0.07200 support zone.
8. Trading Considerations.
The current level is high-risk but has a potential bounce zone (due to oversold RSI).
Safer entries: Near 0.07200 with stop-loss just below.
Short-term traders can target 0.088 – 0.095 resistance zone.
