JellyJelly on daily timeframe is above important historical support, confirmed by EMA 200 and Stochastic (200,3,3) in oversold zone, regarding the price action it is exerting pressure on an important resistance zone, according to my observations two scenarios may occur: bullish continuation or confirmation range oscillating between 0.069$ and 0.093$, however, I take into account that March has started strongly in the bullish movement, this in relation to the long term, meanwhile in the short term (5m timeframe) the stochastic indicator and EMA 200 suggest a possible healthy and necessary pullback to continue the bullish momentum.
It is important for everyone to consider risk management, token adoption, and their own analyses; I share my observations and experience, but remember to adhere to your own trading plan.
It is important for everyone to consider risk management, token adoption, and their own analyses; I share my observations and experience, but remember to adhere to your own trading plan.