Analysis: $WHITE’s RSI on the 2-hour chart is at 75, indicating overbought conditions after a recent pump to $0.0005579. The price is stalling near $0.000527, with a bearish engulfing candle forming. A correction to $0.0004600, the 0.5 Fibonacci retracement, is likely if momentum fades. Declining OBV (On-Balance Volume) supports seller dominance.
Key Levels:
Entry: $0.0005250
Stop Loss: $0.0005500
Target: $0.0004600 (12% downside)
Risk/Reward: 2:1
Short on a confirmed bearish candle close.
Key Levels:
Entry: $0.0005250
Stop Loss: $0.0005500
Target: $0.0004600 (12% downside)
Risk/Reward: 2:1
Short on a confirmed bearish candle close.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.