$GIGGLE keep short
📉 GIGGLE/USDT Chart Analysis
The image shows the trading chart for GIGGLE/USDT on a 4-hour (4h) timeframe.
* Current Price: 82.55
* Price Change (24h): The asset is significantly down 7.07%.
* 24h High: 93.30
* 24h Low: 81.29
* Volume (24h): $30.08M (USDT volume)
Key Observation: Strong Bearish Momentum
The candlestick pattern clearly indicates strong bearish (downward) momentum.
* Large Red Candle: The price has experienced a sharp, rapid decline, marked by a long, pronounced red candlestick that has pushed the price down to the 82.55 level, very close to the 24h low of 81.29.
* Short Indication: The user's request to "Giggle short" aligns with the current technical setup, as the price has broken down significantly.
* Performance Indicators: The summary at the bottom confirms the severe recent price action:
* Today: -9.93%
* 7 Days: -12.76%
* 30 Days: -52.44%
Potential Short Entry and Risks
If considering a "short" position (a bet that the price will continue to fall):
* Entry: The price of 82.55 is a possible entry, as the chart suggests the current breakdown is severe.
* Risk/Reward: The price is very close to its 24-hour low of 81.29. Shorting right at a low point is risky because a slight rebound (a "bounce") could lead to immediate losses. A safer short entry would have been higher up the steep drop.
* Support Level: The 81.29 level acts as immediate, critical support (the 24h low). If the price breaks below 81.29, the bearish move is likely to continue strongly.
Recommendation: If you are planning a short trade, it is crucial to set a Stop-Loss above recent resistance (perhaps above the body of the last large red candle) to manage your risk in case of a sharp upward correction.
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