⚠️ Coin $COLLECT is seeing a sharp sell rejection
🔴 Technical trend: strong sell rejection with a long upper wick and a selling candle extending immediately upon touching the zone
📍 Monitoring zone: 0.07750 – 0.07950
🎯 Corrective price targets:
• Target 1: 0.07456
• Target 2: 0.07344
• Target 3: 0.07219
❌ Scenario invalidation: a 1-hour candle close above 0.08350
💡 Technical rationale: the price encountered a sharp sell rejection when breaking through the main supply area, alongside the oscillator being in the overbought zone, with price movement entering a transitional phase. Also, the overbought/extreme-buy condition was observed, with a dominant strong bearish bias and weakening momentum indicator.
🔴 Technical trend: strong sell rejection with a long upper wick and a selling candle extending immediately upon touching the zone
📍 Monitoring zone: 0.07750 – 0.07950
🎯 Corrective price targets:
• Target 1: 0.07456
• Target 2: 0.07344
• Target 3: 0.07219
❌ Scenario invalidation: a 1-hour candle close above 0.08350
💡 Technical rationale: the price encountered a sharp sell rejection when breaking through the main supply area, alongside the oscillator being in the overbought zone, with price movement entering a transitional phase. Also, the overbought/extreme-buy condition was observed, with a dominant strong bearish bias and weakening momentum indicator.
