$RED /USDT PLUMMETS 19% – CAN THE BULLS RECOVER?
$RED has plummeted to $0.6761, a drop of 19.26%, after reaching a 24H low of $0.5697. A strong sell-off was followed by a quick rebound—can it hold?
Key Levels to Watch
Resistance: $0.7000 – Breaking this level could lead RED towards $0.7500 and $0.8000.
Support: $0.6450 – Losing this level could send it towards $0.6000 and $0.5697.
Trade Setup
Long Entry: Above $0.6900, targeting $0.7500 and $0.8000.
Short Entry: Below $0.6450, looking for $0.6000 and $0.5697.
Stop-Loss: $0.6300 for longs, $0.7100 for shorts.
Market Outlook
MACD is turning bullish, signaling a possible upward momentum.
The order book shows 56.60% buying pressure, indicating that buyers are coming in.
Volume remains high, suggesting ongoing volatility—expect strong price action.
If RED recovers $0.7000, a stronger recovery is possible—stay cautious!