🌊 BLUE (Bluefin): Deep-Sea Bounce Analysis
The BLUE token is currently trading at $0.044, attempting to recover after a massive, prolonged decline. With the RSI deeply oversold (34), the technical setup suggests that a continued short-term rebound from the extreme lows is a strong possibility, though this remains a high-risk trade.
Support & Resistance:
The immediate psychological support level is $0.040, which acts as a crucial floor for the current bounce. Key resistance hurdles are located at $0.060, followed by the major trend reversal point near $0.070 (Parabolic SAR level).
Trade Strategy:
Look for an entry on a small retest near $0.040 - $0.042 to confirm the strength of the bounce. Set your Stop Loss (SL) strictly below the psychological support at $0.038.
3-Stage Take Profit:
TP1: $0.050 (Initial test target).
TP2: $0.060 (Testing key swing high).
TP3: $0.070 (Targeting the major trend resistance).#injective @Injective $BLUE
