$LYN
The price rallied strongly from a low of 0.01818, but the upward momentum has clearly weakened after the move. It has now pulled back to around 0.027, where it appears to be consolidating at a high level. Volume was notably higher during the rise. The pullback has not yet broken support, but the price has not established a firm footing either. This is a consolidation phase after a sharp rally, so stop-losses could easily get hit by back-and-forth price action.
Support: 0.0260 / 0.0245
Resistance: 0.0300 / 0.0313
Personal trade: Short
Entry: 0.0282–0.0290
Stop-loss: 0.0322
Take-profit: First target 0.0248, second target 0.0215.
Short near the current price, or if it makes another push toward resistance. Place the stop-loss a little above the previous high, leaving some room, and target a retest of the previous consolidation zone. If the price drops straight through 0.026, you can also enter on the breakdown, but don't chase it too far. This asset is volatile, so manage your position size carefully.
The price rallied strongly from a low of 0.01818, but the upward momentum has clearly weakened after the move. It has now pulled back to around 0.027, where it appears to be consolidating at a high level. Volume was notably higher during the rise. The pullback has not yet broken support, but the price has not established a firm footing either. This is a consolidation phase after a sharp rally, so stop-losses could easily get hit by back-and-forth price action.
Support: 0.0260 / 0.0245
Resistance: 0.0300 / 0.0313
Personal trade: Short
Entry: 0.0282–0.0290
Stop-loss: 0.0322
Take-profit: First target 0.0248, second target 0.0215.
Short near the current price, or if it makes another push toward resistance. Place the stop-loss a little above the previous high, leaving some room, and target a retest of the previous consolidation zone. If the price drops straight through 0.026, you can also enter on the breakdown, but don't chase it too far. This asset is volatile, so manage your position size carefully.