$ELSA
Open interest has increased and short positions have been liquidated, boosting short-term sentiment. This is a typical capital-driven rally, with no new fundamental news to support it.
Price surged directly from around 0.06 to 0.114, with trading volume also picking up. But momentum has clearly weakened after the peak, and the price is now consolidating around 0.10–0.11. There is no sign of a second major upward move yet; the market is consolidating at elevated levels and could retest support at any time.
Support: 0.1000 / 0.0900
Resistance: 0.1100 / 0.1142
Personal trading plan: Short
Entry: 0.108–0.112
Stop-loss: 0.117
Take-profit: First target 0.092, second target 0.075.
At this level, it’s better to wait for a bounce toward resistance before shorting. Don’t chase the decline. If the price breaks below 0.100 along the way, you can close part of the position first. The market is still digesting the move, so don’t rush to buy the dip.
Open interest has increased and short positions have been liquidated, boosting short-term sentiment. This is a typical capital-driven rally, with no new fundamental news to support it.
Price surged directly from around 0.06 to 0.114, with trading volume also picking up. But momentum has clearly weakened after the peak, and the price is now consolidating around 0.10–0.11. There is no sign of a second major upward move yet; the market is consolidating at elevated levels and could retest support at any time.
Support: 0.1000 / 0.0900
Resistance: 0.1100 / 0.1142
Personal trading plan: Short
Entry: 0.108–0.112
Stop-loss: 0.117
Take-profit: First target 0.092, second target 0.075.
At this level, it’s better to wait for a bounce toward resistance before shorting. Don’t chase the decline. If the price breaks below 0.100 along the way, you can close part of the position first. The market is still digesting the move, so don’t rush to buy the dip.