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brief analysis:

Current Condition:

Last price: $1.1898

Sharp decline from peak $3.4303 to low $1.1287

EMA 7 (yellow) and EMA 25 (purple) show strong downtrend (EMA 7 below EMA 25)

MACD also shows strong bearish momentum (MACD and histogram are below zero)

Selling volume has increased drastically, indicating high selling pressure

Support & Resistance Levels:

Nearest support: $1.1287 (last low)

Next support (based on Fibonacci): could lead to around $1.00 if $1.1287 breaks

Initial resistance: $1.30 and EMA 7 around $1.85

Entry Strategy:

If you are looking for a buy entry (take position), several scenarios:

Conservative (wait for reversal confirmation):

Wait for a bullish confirmation candle above EMA 7

Ideally wait for MACD to start rising and histogram to start shrinking

Entry when the price breaks back above $1.30 or after retesting $1.13 and holding

Aggressive (take at strong support):

Entry in the range of $1.13 - $1.15 with tight SL below $1.12

Good potential risk-reward if there is a rebound

Dollar Cost Averaging (DCA):

Buy gradually starting from $1.15, then add if the price drops to around $1.00

Note:

Volatility is very high, so risk management is important.

Monitor volume and candle pattern at support $1.13