🐂 $GIGGLE currently exhibits a strong bearish trend. However, signs suggest selling pressure may be waning, prompting a cautious counter-trade strategy for a potential bounce. 📈
High volume on breakdowns, notably a 121k spike at the 64.11 low, confirms heavy selling pressure. Conversely, volume is now tapering near current prices, potentially indicating seller exhaustion.
Consistent outflows persist across markets: -11.3M USDT in contracts over 24h and -1.32M in spot. Short-term outflows (-373k over 1h) align with the downtrend, yet appear less intense than broader movements.
Entry (Longs) $GIGGLE:
* Option 1: Accumulate near the 64.11-64.87 support zone.
* Option 2: Wait for a confirmed break above 65.91, ideally with increased volume, near the MA5.
SL: Set at approximately 3% below entry, around 62.92, to manage risk effectively given market volatility.
TP $GIGGLE:
* Target 1: 68.76 (Resistance)
* Target 2: 72.73 (Next Resistance)
The asset is currently oversold, increasing the likelihood of a rebound. Nonetheless, the overall trend remains bearish until key resistance levels are decisively broken.
Are you buying the dip on GIGGLE or waiting it out? #giggle #GIGGLEUSDT
#GIGGLEFUND