$PIXEL JUST DUMPED 10% IN 20 MINUTES — BUY THE DIP OR WAIT? 👀
Price just went through a sharp correction, dropping around 10% in roughly 20 minutes. But it's still on the leaderboard with nearly 30% gains.
The big question now is whether buyers can defend the current support zone.
On the 15mins chart, price is trading around $0.00759, below MA7 ($0.00788) but still slightly above MA25 ($0.00736). Momentum has cooled, and MACD has turned slightly negative after the rejection from $0.00839.
Here are the levels I'm watching:
Short-term support is around $0.00735, with a demand zone around $0.0071–$0.00678.
I prefer taking a long only if price tests this zone and prints a strong bullish recovery candle. No need to catch the falling knife.
Stop-loss - $0.00650
If buyers defend support and regain momentum, the first upside zone is $0.0092–$0.0097.
If bulls break above $0.0097 and hold strong, the next extension toward $0.011 becomes possible.
But if the demand zone breaks, the setup weakens, and I’d avoid forcing a long.
My plan: wait for the support test, look for a strong recovery candle, and then consider the entry. A 30% pump followed by a sharp dump can create opportunities, but confirmation matters.
#Macro Insights#
Price just went through a sharp correction, dropping around 10% in roughly 20 minutes. But it's still on the leaderboard with nearly 30% gains.
The big question now is whether buyers can defend the current support zone.
On the 15mins chart, price is trading around $0.00759, below MA7 ($0.00788) but still slightly above MA25 ($0.00736). Momentum has cooled, and MACD has turned slightly negative after the rejection from $0.00839.
Here are the levels I'm watching:
Short-term support is around $0.00735, with a demand zone around $0.0071–$0.00678.
I prefer taking a long only if price tests this zone and prints a strong bullish recovery candle. No need to catch the falling knife.
Stop-loss - $0.00650
If buyers defend support and regain momentum, the first upside zone is $0.0092–$0.0097.
If bulls break above $0.0097 and hold strong, the next extension toward $0.011 becomes possible.
But if the demand zone breaks, the setup weakens, and I’d avoid forcing a long.
My plan: wait for the support test, look for a strong recovery candle, and then consider the entry. A 30% pump followed by a sharp dump can create opportunities, but confirmation matters.
#Macro Insights#