$PORTAL / USDT | Technical Analysis 📉

Current Price: $0.0360

24H Change: -17.24%

Timeframe: 1H

🔻 Trend: Breakdown from Local High with Bearish Momentum

PORTAL experienced a steep pullback after spiking to $0.0454. Price has now broken below the 9 EMA ($0.0375) and 20 EMA ($0.0387), with current support being tested around the 100 EMA ($0.0363). The structure shows a clear rejection from the recent high and a bearish shift in short-term trend.

📌 Potential Entry Zone (Oversold Reversal Attempt): $0.0355 – $0.0362

🎯 Target 1: $0.0385 (EMA-20 / intraday resistance)

🎯 Target 2: $0.0410 (mid-range consolidation zone)

🛑 Stop Loss: $0.0344 (below EMA-200 and last demand spike)

📊 Indicators & Insights:

RSI(9): 20.68 → Deep in oversold territory, suggesting potential short-term bounce.

Volume: High on the initial rally, but fading during the sell-off, indicating possible exhaustion of selling pressure.

EMA Structure: Price has breached short-term EMAs (9 & 20) and is testing EMA-100. If EMA-100 holds, this may offer temporary support.

Price Action: Clear rejection wick from $0.0454 top. Break of $0.0363 may expose lower support zones near $0.0348 and $0.0310.

⚠️ Caution:

While the RSI suggests a potential bounce, the overall trend is bearish unless PORTAL reclaims levels above the 20 EMA ($0.0387) with strong volume. A breakdown below the 100 EMA could extend the selloff. Wait for reversal confirmation and volume influx near support levels.