buy on weakness
API3 USDT Short Position Setup with Targets
The coin has established two support levels, which have been confirmed through multiple touches and the placement of stop orders for long positions beyond these levels.
Maxima are decreasing along the trendline, indicating a bearish trend. The presence of impulsive bearish candles with increased volume suggests active selling, pushing the price towards new lows.
Anticipate a consolidation phase around the current support and a subsequent impulsive move amid heightened market activity.
Profit targets are set at 0.7584, 0.7497, and 0.7429, respectively.
This analysis suggests a short position with a stop loss at 0.7849.
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AI Analysis
The current technical analysis for API3/USDT indicates a bearish scenario driven by multiple signals. The formation and testing of support levels suggest these are critical zones where buyers previous...
AI Recommendation
Based on this technical analysis, it would be advisable to initiate a short position on API3/USDT with a stop loss at 0.7849 to manage potential risks.
Traders should consider entering the trade near...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
