$STAR from 0.06174 down to 0.0484—one needle drop wiped out 22%.
The four-hour candle closed at 0.05189, breaking below the lower boundary of the previous consolidation range. Trading volume was 4.6 million, showing an expansion in volume—indicating that someone is offloading.
0.0484 is the low of this sharp sell-off and also a key support. If it breaks, then it’s not a shakeout. 0.0617 has turned into a resistance level. On a rebound, first see whether it can rise to around 0.0560 and hold.
For long positions, place a stop-loss below 0.0478. For aggressive traders betting on a rebound, first target 0.0560, then push up toward 0.0617. If 0.0478 breaks, don’t catch the falling knife.
After the next four-hour candle closes, check whether it’s a real bottoming out or if it continues to probe lower.
#STAR
The four-hour candle closed at 0.05189, breaking below the lower boundary of the previous consolidation range. Trading volume was 4.6 million, showing an expansion in volume—indicating that someone is offloading.
0.0484 is the low of this sharp sell-off and also a key support. If it breaks, then it’s not a shakeout. 0.0617 has turned into a resistance level. On a rebound, first see whether it can rise to around 0.0560 and hold.
For long positions, place a stop-loss below 0.0478. For aggressive traders betting on a rebound, first target 0.0560, then push up toward 0.0617. If 0.0478 breaks, don’t catch the falling knife.
After the next four-hour candle closes, check whether it’s a real bottoming out or if it continues to probe lower.
#STAR