#snakes

📈 What can be seen on the chart:

1. Strong upward rally

• The price increased from about $0.052 to $0.113 – which is over 100% in a few hours.

• The bullish candles are long and dynamic, suggesting a strong buying impulse.

2. Local peak and supply reaction

• Around $0.113, a strong bearish candle appeared with a long wick at the top – this is a signal that sellers have become active.

• After the peak, there was consolidation / sideways correction.

3. MA7 crossed MA50 (bullish signal), but…

• The short average (MA7 – orange) crossed above MA50 (blue) – this is a positive trend signal.

• However, the price is returning below MA7, and MA7 is starting to curl – so the impulse is weakening.

4. MA100 (purple) is far above the price

• MA100 indicates that in a broader perspective (medium-term) we are still in a bearish zone, despite the local rally.

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🧠 Technical assessment (at this moment):

Element Assessment

Short-term trend Bullish, but weakening

Momentum Weakened after the breakout

Volume Low at the end, does not support continuation

Formation Possible flag/consolidation after the breakout

🔍 What could happen:

• If the price holds above $0.087 (support from consolidation) and returns above MA7 → possible continuation of increases.

• If it breaks $0.113 with volume → further impulse may occur (e.g. to the zone of $0.124–$0.13).

• If it breaks below MA50 (~$0.0718) → it may return to levels before the breakout.

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🟡 Suggestion:

Currently, it looks like a cooling off after euphoria. Watch the price reaction at:

• level $0.087 (local support),

• MA50 (blue line),

• and whether new volume appears with upward movement.