$EVAA 🐂
$EVAA rallied +6.7%
- Given the explosive pump (+6.7% in 15m, +188% 24h), this looks like a classic run for liquidity near the most recent swing high (2.9781). I expect some profit-taking or even a possible short-term reversal here, especially if price manipulates above 2.9781 and quickly rejects.
- I would NOT long at current levels unless you see a clear breakout and strong candle close above 2.9781 with huge volume and no immediate selling wick. If this happens, a quick scalp to 3.10-3.20 could be possible, but I'd be cautious and keep positions tight. Wait for confirmation!
- The higher probability setup is to look for a retracement into the 2.5682-2.1258 zone. If price dips there and forms a bullish engulfing candle, pin bar, or a strong reversal on the 5m/1m chart, that would be a great long entry zone. In such a case, you could target 2.78 and then new highs, with your stop below the swing low of that move.
- If you see a sharp rejection above 2.9781 or a clear lower high forming, consider this a potential bull trap and avoid chasing. Do not long blindly into resistance after such a vertical move!
- My bias: I expect a short-term pullback or consolidation before any further sustainable upside. Only enter a long after a shakeout or clear bullish confirmation from demand zones.
- My trade setup example: If price dumps to 2.5682-2.1258 and you see a reversal pin bar or engulfing pattern on lower timeframes, enter long. First take profit at 2.78; second target at 2.95+. Stop-loss at the swing low of the entry candle.
- If price breaks and holds above 2.9781, only enter long after a retest and bullish confirmation. Otherwise, wait for the pullback.
📝 This is not investment advice, only an educational analysis based on what I see on the chart right now! Always use proper risk management and wait for clear confirmation before entering trades, especially after such strong and fast pumps.
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#EVAA