Direct warning and advice: The $US coin is speaking... Will it keep rising, or is a drop approaching?:
$JCT $KAIA
After a price explosion of over 100% and a peak of $0.030100, everyone is asking: Should we buy now, or will the price fall?
Here’s the technical summary, without the complications 👇
Current technical outlook:
• Record overbought conditions: The RSI has reached 94.97! This means the price is in a very overbought zone, which historically is followed by a correction or a cooldown.
• Profit-taking: The candles have started forming an upper wick at the peak, indicating that some smart money is taking profits.
Will it keep rising?
• In the short term: The direct vertical rally has temporarily ended. The coin needs to catch its breath and retest support levels before any new surge.
• Breaking above the $0.030100 peak and holding above it with a strong candle is the only condition for the rally to resume.
Golden advice for traders:
If you’re in the trade and in profit: Put your profits in your pocket or secure your position by raising your stop-loss immediately. Don’t get greedy when indicators are at their peak!
If you’re out of the trade and thinking of buying (FOMO): Don’t enter now! Buying with the RSI at 94 is an impulsive, uncalculated move. Wait for a correction and a retest of support levels.
Important levels to watch:
• Main resistance: $0.030100
• Expected support and accumulation zones: $0.02500, then $0.02310
Protecting your capital comes first, and opportunities in the market never end!#BTC #Binance
$JCT $KAIA
After a price explosion of over 100% and a peak of $0.030100, everyone is asking: Should we buy now, or will the price fall?
Here’s the technical summary, without the complications 👇
Current technical outlook:
• Record overbought conditions: The RSI has reached 94.97! This means the price is in a very overbought zone, which historically is followed by a correction or a cooldown.
• Profit-taking: The candles have started forming an upper wick at the peak, indicating that some smart money is taking profits.
Will it keep rising?
• In the short term: The direct vertical rally has temporarily ended. The coin needs to catch its breath and retest support levels before any new surge.
• Breaking above the $0.030100 peak and holding above it with a strong candle is the only condition for the rally to resume.
Golden advice for traders:
If you’re in the trade and in profit: Put your profits in your pocket or secure your position by raising your stop-loss immediately. Don’t get greedy when indicators are at their peak!
If you’re out of the trade and thinking of buying (FOMO): Don’t enter now! Buying with the RSI at 94 is an impulsive, uncalculated move. Wait for a correction and a retest of support levels.
Important levels to watch:
• Main resistance: $0.030100
• Expected support and accumulation zones: $0.02500, then $0.02310
Protecting your capital comes first, and opportunities in the market never end!#BTC #Binance