📊 Technical Analysis: ESPORTS (Yooldo) - Market Overview
The daily chart of ESPORTS presents a correction scenario after a strong appreciation, now seeking a consolidation region and possible bottom. Below, I detail the critical points for your operation:
1. Support and Resistance (Where the price "lives")
Main Support: $0.335 - $0.345. This zone is vital. The price recently touched the bottom of $0.345 and there was buying absorption (lower wick). If it loses this level, the next technical target is well below.
Immediate Resistance: $0.372 (MA7). The price is struggling to close above the 7-day moving average.
Reversal Resistance: $0.441 (MA25). Only the breakout of this zone confirms the end of the current downtrend.
2. Moving Averages (MA)
We observe a "Death Cross" of short term, where the MA7 is below the MA25 and MA99. This indicates that selling pressure is still dominant. Ideally, wait for the price to lateralize so that the averages can approach again.
3. Operational Strategy (Setup)
⚡ Entry Point (Buy Zone):
Conservative: Wait for the confirmed breakout of MA7 ($0.373) with volume.
Aggressive: Fractional entries close to the support of $0.346.
🎯 Exit Point / Take Profit (TP):
TP 1: $0.421 (Aligned with MA99)
TP 2: $0.441 (Re-test of MA25)
TP 3: $0.513 (Previous top)
🛡️ Stop Loss (Protection):
Below $0.330. If the daily candle closes below this level, the long-term bullish structure is invalidated.
💡 Tip for Traders
The RSI (Relative Strength Index), although not explicitly visible in the cut, suggests an oversold region given the history of consecutive declines. The volume (VOL) shows that selling exhaustion is near.
Conclusion: It's a moment of patience. Don't "rush" the price. Wait for confirmation at support to ensure a favorable Risk/Return ratio.
#CryptoAnalysis #TradingView #ESPORTS #Yooldo #BinanceSquare #TechnicalAnalysis
$SPORTFUN