AWE is currently sweeping its recent lows, testing the resolve of bulls at the 0.04976 level, and I'm watching this zone closely as it's where the order block (OB) support meets the fair value gap (FVG) - a sandwich zone that's historically proven to be a launchpad for this coin.
From a technical standpoint, the higher time frame (HTF) trend is still bullish, with the RSI sitting at 68, indicating some room to run before overbought conditions become a concern. Volume is relatively quiet at 0.0x, but that's to be expected given the current market conditions. The SMC Score is at 6.1/10, which isn't extremely high but still suggests a moderate level of confidence in the current trend.
Here are the trade levels I'm working with:
- Entry: 0.04976
- Take Profit 1 (TP1): 0.05079, offering a 1.7x risk-reward ratio
- Take Profit 2 (TP2): 0.05234, offering a more aggressive 4.2x risk-reward ratio
- Stop Loss (SL): 0.04914, which is just below the current support zone.
For those looking to get in on $AWEUSDT, now might be the time - keep a close eye on that 0.04976 entry with OB support. Let's ride this wave, and as always, remember to manage your risk.
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