This coin has already fallen below the key support, and the situation is not looking good. The price is now running close to the lower band at 0.1292, and the middle band of the Bollinger Bands at 0.1327 has already been lost, indicating a clear overall downward trend.
From a technical perspective, both lines of the MACD are below the zero axis, and both the KDJ and RSI are in a weak area, indicating a severe lack of rebound momentum. The 1-hour candlestick chart has continuously shown bearish candles, and the trading volume is still high, indicating persistent selling pressure with no signs of relief.
In the short term, if the price cannot bounce back to the resistance level of 0.1320, it is highly likely to continue to probe lower, with a target possibly pointing to the previous low near 0.1267. For bearish traders, it may be advisable to consider adding to short positions at the current price or waiting for a rebound to around 0.1310, as this offers a more reasonable risk-reward ratio.
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This coin has already fallen below the key support, and the situation is not looking good. The price is now running close to the lower band at 0.1292, and the middle band of the Bollinger Bands at 0.1327 has already been lost, indicating a clear overall downward trend.
From a technical perspective, both lines of the MACD are below the zero axis, and both the KDJ and RSI are in a weak area, indicating a severe lack of rebound momentum. The 1-hour candlestick chart has continuously shown bearish candles, and the trading volume is still high, indicating persistent selling pressure with no signs of relief.
In the short term, if the price cannot bounce back to the resistance level of 0.1320, it is highly likely to continue to probe lower, with a target possibly pointing to the previous low near 0.1267. For bearish traders, it may be advisable to consider adding to short positions at the current price or waiting for a rebound to around 0.1310, as this offers a more reasonable risk-reward ratio.