🚨Bearish 📉
The price is at $0.1692, down -23.89%. The current overall picture clearly reflects selling pressure ♨️, especially with new coins that often face selling pressure from the start, making a sharp decline unsurprising. Meanwhile, the RSI (6) is at 13.7, which is considered severely oversold, indicating a potential technical rebound in the market. However, the risk remains high.
📌The support level at $0.1647 has been tested, but is not yet strong enough. If it fails to hold above this level, a deeper drop is possible. Therefore, in the short term, the risk is very high, and bearish momentum still dominates the market. Traders should be wary of speculating too quickly.
📌However, the long-term outlook will depend on fundamentals and trading volume. If the project builds confidence, creates real utility, and generates a return inflow of funds, this could be an opportunity to accumulate. However, if support is lacking, the price could decline further. Therefore, a cautious strategy should be used, awaiting confirmation from both volume and trend trends before making investment decisions. A cautious approach is the safest option for now. ✨
