⚠️ Coin $GPS rejects the main moving average and is preparing for a corrective downtrend wave
🔴 Technical direction: a decisive bearish rejection with a very long upper wick upon hitting the moving average
📍 Watch zone: 0.01020 – 0.01035
🎯 Corrective price targets:
• Target 1: 0.00992
• Target 2: 0.00983
• Target 3: 0.00974
❌ Invalidation: a 1-hour candlestick close above 0.01065
💡 Technical rationale: the price faced sharp selling pressure, reflected in the red candle with an extended upper wick after touching the main orange moving average. This coincided with the oscillator being in the overbought area, along with a strong overbought signal. Strong bearish bias dominates, while short-term momentum remains neutral.
🔴 Technical direction: a decisive bearish rejection with a very long upper wick upon hitting the moving average
📍 Watch zone: 0.01020 – 0.01035
🎯 Corrective price targets:
• Target 1: 0.00992
• Target 2: 0.00983
• Target 3: 0.00974
❌ Invalidation: a 1-hour candlestick close above 0.01065
💡 Technical rationale: the price faced sharp selling pressure, reflected in the red candle with an extended upper wick after touching the main orange moving average. This coincided with the oscillator being in the overbought area, along with a strong overbought signal. Strong bearish bias dominates, while short-term momentum remains neutral.
