After the recent sharp drop of the coin
$PLAY by more than 29\%, the price is now approaching critical correction zones on the daily frame. Here's a quick look at the candlestick chart and the best scenario to handle the current movement:
🔍 Current technical data:
General trend: The price is currently trading below the moving averages MA(7) and MA(25), which reflects a strong and temporary bearish momentum.
Golden support zone: The price is getting very close to the critical 99-day moving average MA(99) which is centered around levels of 0.06619.
🏹 Proposed entry plan (buy scenario):
We are currently monitoring the levels around 0.06600 as a potential strong bounce zone. Based on that, the trading plan is as follows:
🎯 Target entry zone (Buy/Long): at a price of 0.06600 (waiting for price stability and clear bounce signals).
🛑 Risk management (Stop Loss): Closing a daily candle below the levels of 0.06450 cancels the bullish scenario.
📈 Short-term targets: * First target: 0.08500
Second target: 0.09200 (testing MA(7))
Main target: 0.11000
Share your thoughts in the comments, do you think the support at 0.066 will hold, or is there more bleeding to come? 👇
#العملات_الرقمية #تحليل_فني_فرص_يومية #تداول_العملات_المشفرة #Binance #PLAYUSDT