DRIFT/USDT (4H) — is there a chance for a bounce? 🤔
On the 4H chart $DRIFT , we're seeing strong volatility after an impulsive surge to 0.04759. The price has sharply corrected and is trading around 0.0329, right near the EMA50 and EMA99 zones. This is a crucial technical level where the future direction often gets decided.
What the indicators show:
MACD is dipping into the negative zone → the downward momentum isn't fully exhausted yet.
RSI(6) is around 38 → local oversold conditions are nearing.
StochRSI is at the bottom → a technical bounce is possible in the upcoming candlesticks.
Bounce scenario:
If the price holds the range of 0.0323–0.0325, there's a high likelihood of buyer reaction.
🎯 Bounce targets:
1st target: 0.0346 (+5%)
2nd target: 0.0368 (+11%)
3rd target: 0.0393 (+19%)
Trading plan:
Aggressive entry: from the current 0.0329
Conservative entry: after a solid close above 0.0346
Stop: below 0.0315
When the scenario gets invalidated:
If the 4H candlestick confidently closes below EMA99 and the level of 0.0315 — then the path opens up to 0.0300 and lower.
Right now, the structure looks more like an attempt to stabilize after a panic sell-off, so the likelihood of a technical bounce is gradually increasing.
Trading 👉$DRIFT
On the 4H chart $DRIFT , we're seeing strong volatility after an impulsive surge to 0.04759. The price has sharply corrected and is trading around 0.0329, right near the EMA50 and EMA99 zones. This is a crucial technical level where the future direction often gets decided.
What the indicators show:
MACD is dipping into the negative zone → the downward momentum isn't fully exhausted yet.
RSI(6) is around 38 → local oversold conditions are nearing.
StochRSI is at the bottom → a technical bounce is possible in the upcoming candlesticks.
Bounce scenario:
If the price holds the range of 0.0323–0.0325, there's a high likelihood of buyer reaction.
🎯 Bounce targets:
1st target: 0.0346 (+5%)
2nd target: 0.0368 (+11%)
3rd target: 0.0393 (+19%)
Trading plan:
Aggressive entry: from the current 0.0329
Conservative entry: after a solid close above 0.0346
Stop: below 0.0315
When the scenario gets invalidated:
If the 4H candlestick confidently closes below EMA99 and the level of 0.0315 — then the path opens up to 0.0300 and lower.
Right now, the structure looks more like an attempt to stabilize after a panic sell-off, so the likelihood of a technical bounce is gradually increasing.
Trading 👉$DRIFT