Quick spike to $2 then fall to $1.40 — sell on strength
I expect a quick, short-lived rally to $2 followed by a reversion to around $1.40. I’d treat the $2 level as a selling opportunity rather than a buy signal.
Volume and momentum will likely fade at the spike, so I won’t chase the move; I’d consider re-entering only after price stabilizes near $1.40 or shows clear support.
Analysis
I see a transient rally likely driven by short-term buying that will exhaust itself, with prevailing selling pressure pushing price back to $1.40; thin liquidity could exaggerate the bounce.
Recommendation
Sell into the $2 spike and avoid buying the breakout; wait for confirmation and stabilized support near $1.40 before considering re-entry.
Disclaimer
The 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.