$MON / USDT 15M shows a Potential Bullish Reversal at New Lows

Sellers are showing signs of exhaustion near a significant new low, setting up a Potential Bullish Reversal on the $MON chart on the 15-Minute timeframe. The price has fallen sharply but the recent candle wick suggests a strong defense and aggressive buying response from the 0.02120 area, which marks the 24h low. Currently trading at 0.02240, this setup is based on catching the potential bounce from this demand area and riding the short-term recovery up to the first resistance zone. The overall 4-hour technical analysis suggests a 'Buy' signal, supporting the idea of a recovery bounce.

Trade Setup (Long)

Entry: 0.02240

Stop-Loss: 0.02095

Target 1: 0.02350

Target 2: 0.02450

Target 3: 0.02600

Target: 0.02721

MONUSDT

Perp

0.01948

-9.09%