$BANK Update: Relief Rally or Local Top Forming?
($BANK) (Lorenzo Protocol) has cooled off significantly after its massive surge to 0.06599. The price is currently testing the 1H SuperTrend support at 0.04888, while the RSI(6) has reset to a neutral 54.36, suggesting the initial overbought pressure has eased and a consolidation phase is beginning.
🎯 Trade Setup
EP (Entry): 0.0520 – 0.0545
TP (Targets)
TP1: 0.0610
TP2: 0.0660
TP3: 0.0720
SL (Stop Loss): 0.0465
The current price action shows a significant wick to the downside, indicating strong buyer interest near the 0.048 liquidity zone. As long as ($BANK) maintains its position above the SuperTrend green line, the structure remains bullish, but a break below could lead to a deeper retest of the 0.042 level.
Do you think ($BANK) will hold this support for another leg up, or is the hype fading?
Watching this level closely.
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