MUBARAK Technical Analysis (Price: $0.0410)
Trend & Structure:
MUBARAK is consolidating near the $0.0410 support level after a recent pullback. The price is testing a key demand zone, and a bounce here could target $0.0450 (resistance). A breakdown below $0.0400 may trigger a deeper correction to $0.0380.
Key Levels:
Support: $0.0400 (psychological level)
Resistance: $0.0430 (recent swing high)
Breakout Target: $0.0470 (if bullish momentum returns)
Volume & RSI:
Volume is declining, suggesting weak selling pressure. A spike in buying volume could confirm a reversal.
RSI (4H) is near 45, indicating neutral conditions—room for upward movement before overbought.
Patterns to Watch:
Bullish Scenario: Double bottom forming at $0.0410, with a break above $0.0430 confirming strength.
Bearish Risk: Failure to hold $0.0400 may lead to a downtrend towards $0.0380.
Short-Term Strategy:
Longs: Consider entries near $0.0410 with a tight stop below $0.0400. Target $0.0430–$0.0450.
Shorts: Only if $0.0400 breaks; target $0.0380.
