Yesterday's market review
After a significant rise in OACA coin yesterday, it entered an adjustment phase, peaking at 3.57, then the price fell back, currently fluctuating around 2.89. From the candlestick pattern, the price showed a retracement after a sharp rise, but overall is still in an upward trend.
Key data:
Yesterday's lowest price: 2.82
Yesterday's highest price: 3.57
Yesterday's closing price: 2.89
II. Current Technical Analysis
Moving average support and resistance
MA7 (Short-term moving average): 1.57, still slightly bullish in the short term, but the price has retreated to near the moving average.
MA30 (Medium-term moving average): 1.56, medium-term trend is upward, still in a bullish trend, but need to observe the strength of support.
The 2.80-2.85 range is a short-term support level; falling below may lead to a deeper retracement.
Trading volume and momentum
After a volume increase yesterday, the current trading volume has decreased, with short-term funds showing divergence.
If the trading volume fails to effectively expand, the price may continue to fluctuate or retrace.
Candlestick pattern
A long upper shadow indicates heavy selling pressure near 3.57.
Short-term price is in an adjustment phase and may test the 2.80-2.85 support area.
III. Today's operational strategy
Direction: Cautiously bullish, waiting to enter after stabilization.
Operation strategy price range for opening positions (buying point): 2.95 (near current price) First take profit level: 3.25 Second take profit level: 3.50 Stop loss level: 2.70 (exit if it falls below support)
Trading idea:
If the price retraces to the 2.85-2.89 range, consider building positions in batches, targeting 3.20, and looking at 3.50 after breaking through.
If the price falls below 2.70, exit to avoid the risk of deep retracement.
Current market sentiment remains optimistic, it is recommended to pay attention to changes in volume. If volume breaks through 3.20, the probability of upward movement is high.
IV. Risk warning
If it falls below 2.70, the short-term trend may enter an adjustment phase, requiring caution.
After a significant price surge, the market may enter a consolidation phase, and it is not advisable to chase highs blindly in the short term.
Focus on market capital trends. If the trading volume continues to expand, it may initiate another upward trend.
