Morpho/Usdt
MORPHOUSDT 📉 **Price Rejection at 2.800**
The price of **Morpho Coin** ($2.2148) was rejected at a **previous resistance level** of $2.800, which means it couldn't break past that level and moved back down. This is an important point for traders, as the price struggled to go higher, and now we're seeing it at a lower price.
🛑 **Support Levels**
The **support levels** are areas where the price might find buying interest and potentially reverse upwards. For Morpho Coin, the support levels to watch are:
- **$1.7634** 📉
- **$1.3456** đź”˝
If the price continues to decline, these are key levels where the price may stabilize or bounce back.
🚀 **Long Position Potential**
For a **long position** (buying), many traders would look for the price to test the support levels like **$1.7634** or **$1.3456**, hoping for a price reversal and aiming to profit if the price goes back up. It's important to wait for confirmation of a bounce off these levels to minimize risk.
Keep in mind, this is a **technical analysis** explanation and not financial advice! Always do your own research and consider market conditions.
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