NOTUSDT Analysis: Short-Term Bearish Move Before Expected UpsideHello Traders,
I'm closely monitoring NOTUSDT, and I foresee a short-term bearish move before an upside correction.
Key Levels:
Current Price: 0.01160
Support Level: 0.011
Resistance Level: 0.012
Analysis:
Price Action: The price is likely to drop to the 0.011 region, where we might see strong buying interest stepping in. This level has acted as a crucial support in the past.
Indicators:
RSI: Nearing oversold conditions, which could suggest a potential reversal after the anticipated dip.
MACD: Currently bearish, supporting the expectation of a drop before any correction.
Volume: Watch for a spike in volume as the price approaches the 0.011 level, which could indicate the start of buying pressure and a possible reversal.
Strategy:
Entry Point: Consider buying around the 0.011 support level, looking for signs of reversal or consolidation. This could be a good entry point for a short-term trade.
Target: 0.012. This is a key resistance level and the expected target for the upside correction.
Stop Loss: Consider placing a stop loss below 0.0108 to manage risk effectively.
Conclusion:
Keep an eye on the 0.011 level for potential buy opportunities. If the price holds at this support, we could see a corrective move back towards 0.012. As always, manage your risk and trade carefully.
Happy Trading!
@TheLastLuftwaffe
