🚨 Alert for Potential Trading Setup for KERNEL Coin Within One Day
📉⚠️🔥📊
📌 Comment: After its listing on Binance on April 14, KERNEL Coin experienced sharp fluctuations, rising to its highest level at $0.47325 on April 14, then dropping to its lowest level at $0.1904 on April 18. Currently, the coin is trading around $0.1917, with a daily trading volume of approximately 75 million
📊 Trading Setup:
🎯 Entry Price: $0.1917
🎯 Price Targets:
🟠 $0.22
🔴 $0.26
💀 $0.30
🚫 Stop Loss Limit: $0.17
📈 Risk-to-Reward Ratio: High | Reward = Potential
📉 Technical Indicators:
• RSI: Around 60 - indicates nearing the overbought zone, which may suggest a potential price correction soon.
• MACD: Bullish crossover, indicating positive momentum in the short term.
• Bollinger Bands: Price is close to the upper band, which may indicate upcoming volatility.
• Support and Resistance Levels:
- Support: $0.17
- Resistance: $0.22 — If broken, the price may head towards $0.26 or even $0.30.
📌 Notes:
• The recent price drop may be attributed to profit-taking after the momentum resulting from the listing.
• Despite the positive momentum, technical indicators should be monitored cautiously, as a high RSI may indicate a potential price correction.
• If the price breaks the resistance level at $0.22, it may indicate a continuation of the upward trend. However, if it breaks the support at $0.17, the price may head towards lower levels.