Mr backbencher

$BANANAS31 (Banana For Scale, the meme coin on BNB Chain inspired by the classic "banana for scale" joke) is showing signs of life on the 1D chart after that brutal dump. Right now, the price sits around 0.003959, clawing back strongly from the recent low near 0.002785 with a big green rebound candle backed by seriously elevated volume. This looks like a textbook reversal impulse—sellers got exhausted, buyers stepped in hard, and it's now reclaiming the MA(25) area (~0.003888) on the daily timeframe. As a Seed-tagged gainer/meme play, volatility is baked in, so expect whipsaws, but the structure leans bullish if momentum holds.
For a solid long setup, I prefer the dip-buy approach on a healthy retest rather than chasing the current bounce blindly. Wait for price to pull back toward the 0.00385–0.00390 zone—this should act as fresh support where the MA(25) and the breakout level from the dump converge. If it respects that area with a bounce (ideally on decent volume and no immediate rejection wick), it confirms the reversal is real and continuation is likely.
Set your stop loss conservatively: tight at 0.00370 to protect against a fakeout under the retest, or safer at 0.00355 (just below the MA(99) around 0.003558) for more breathing room. This keeps risk manageable in this choppy meme environment.
Targets look clear on the chart—first realistic take-profit at 0.00404 (the prior 24h high and immediate reaction level). If that clears cleanly, next resistance sits at 0.00443, then push toward 0.00477–0.00487 where the upper band/resistance cluster lives. Partial profits make sense here: scale out some at 0.00404 to lock gains, then trail the rest or move stop to breakeven once it tags 0.00443, because these Seed gainers can snap back fast on profit-taking.
If you're feeling more aggressive and want to play breakout continuation instead, wait for a clean daily or 4H close above 0.00405 (breaking that 24h high decisively). Enter on the push with stop below 0.00388 (failure back under MA(25) kills the momentum case). Same targets apply, but this setup needs sustained volume and no quick wicks down to work well.
Invalidation is straightforward: if price fails to defend 0.00388 on any meaningful pullback and starts closing below it consistently, the whole rebound loses steam. In that case, step aside—it's probably just a dead-cat bounce heading back toward 0.00356, 0.00316, or even retesting the 0.00278 low. Don't force longs there.
Quick practical note: memes like this thrive on hype and volume spikes, so keep an eye on overall market sentiment (especially BNB and meme sector flows). Take partials early to avoid getting caught in a rug-pull-style dump, and size small—1-2% risk max per trade given the wild swings. If you're watching shorter frames like 15m, 1h, or 4h for tighter entries/stops, just let me know your preferred timeframe and I'll refine the levels accordingly. Stay sharp out there! 🍌