The chart shows a period of consolidation followed by a rejection, leading to a sharp decline. However, after reaching the $19.09 level, the price has stabilized, indicating strong support and potential accumulation by buyers. This prolonged consolidation phase suggests that selling pressure is weakening, and a reversal could be on the horizon.
With sellers exhausted and buyers stepping in, the price is likely preparing for an upward breakout. Once momentum builds, a bullish move could reclaim key resistance levels, making this an opportune moment to anticipate a trend reversal and a potential rally.
interested in Auction again at this price just got notification earlier. previously I got 550%+ on this. (idea linked below) entered DCA long under 21 for me looks very decent price to buy. wants higher prices sooner. looking at the sharp dump will not stick to it if doesn't hold here. Strategy: DCA in under 21 if doesn't hold DCA out Note: Not a Financial Advice. Trade active
# $AUCTION USDT Market Analysis Summary AUCTIONUSDT is in a strong bearish trend, trading at 19.35, significantly below all EMAs (EMA7: 20.02, EMA20: 24.92, EMA50: 30.09). The 4h RSI at 29.55 indicates oversold conditions, potentially setting up for a relief bounce. **Key Technical Insights:** - Price dropped dramatically from 51.60 on March 22 to current levels - 4h timeframe shows bearish EMA alignment (EMA7 < EMA20 < EMA50) - MACD remains below signal line across timeframes - Volume declining during downtrend suggests seller exhaustion **Key Levels:** - Support: 19.06 (recent low), 18.62 (absolute low), 19.00 (psychological) - Resistance: 19.57 (recent high), 20.02 (EMA7), 21.00 (psychological) **Market Pressure:** - Orderbook: More sell than buy pressure (imbalance ratio: 0.84) - Futures: Extremely negative funding rate (-71.94% annualized) - Recent short liquidations with no long liquidations - Sentiment: Strongly bearish (potentially contrarian) **Probable Scenarios:** 1. Continued Downtrend (50%): Test of 18.80-19.00 zone 2. Relief Rally (40%): Bounce toward 19.60-20.02 3. Sideways Consolidation (10%): Range between 19.20-19.60 **Trading Strategy:** - Spot: Consider buys at 18.80-19.00 with stops below 18.50 - Futures: Maximum 2x leverage with tight stops - Position sizing: 5% maximum of portfolio - DCA approach: 30/40/30 split at key levels - Take profit: 19.60 → 19.80 → 20.02 The extremely negative funding rate provides opportunities for longs despite the bearish trend. Monitor short liquidations as potential catalysts for a relief rally.