🚨 MAV/USDT: Maverick at a Crossroads! Bullish Reversal or Deeper Correction?

Market Outlook: After a prolonged period of downward pressure, Maverick Protocol ($MAV) has shown recent signs of a potential bullish reversal, forming a bottom near $0.04 and reclaiming the $0.05 level as support. A recent price increase over the last 24 hours has added to this bullish sentiment.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Wait for a confirmed breakout and candle close ABOVE the resistance level of $0.0615 on a higher timeframe (e.g., 4H or Daily) with significant volume. A retest of this level as support could also present a conservative long entry.

💰Targets: $0.0665, $0.0715, and potentially towards $0.0775.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $0.0550.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.0615 resistance zone and a confirmed breakdown BELOW the crucial support level around $0.0550 with a closing candle on a higher timeframe.

💰Targets: $0.0525, $0.0500, and potentially lower toward the recent bottom near $0.0400.

🛑Stop Loss: Above the resistance zone at $0.0620.

Your Action Plan:

01 - Wait for Confirmation: MAV is at a critical juncture. The recent positive price action is promising, but it is vital to wait for a clear, high-volume signal indicating a confirmed breakout before committing capital.

02 - Use a Stop-Loss: Given the asset's history of volatility, a stop-loss is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position, especially given the recent price swings. Assess your risk tolerance and size your trades accordingly.

📢 What are your thoughts?

Vote: Do you think MAV will break out of its consolidation and push higher, or will it be rejected and continue to fall?

Breakout and Rally 🚀

Rejection and Decline 📉

Comment: Share your analysis below!