From the perspective of chart data and technical analysis, JELLYJELLY's short-term trend has a significant volatility risk, while the medium to long term requires attention to the sustainability of funds and trends.
Currently, the latest price of this cryptocurrency is $0.08992, with a 24-hour drop of 15.84%. The price has retreated to near MA7 ($0.08783), which serves as a short-term support line. If it breaks below this level, it may further test the 24-hour low of $0.08905 or even the previous low of $0.03162. If it can hold above MA7, it may rebound relying on the support of MA25 ($0.05418) and MA99 ($0.06870). The 24-hour trading volume reached 990 million, with a transaction amount of 97.41 million USDT. Although the trading volume has increased, the price has fallen, reflecting significant short-term selling pressure.
From the time dimension data, the 7-day increase is 96.20%, and the 30-day increase is 54.21%. The previous gains have accumulated a considerable amount of profit-taking, and this pullback may be due to profit-taking. In terms of technical indicators, the price is deviating from the short-term moving average, and after a sharp decline, there may be a technical rebound. However, if there is no new capital entering the market and no positive support, the height of the rebound will be limited. Overall, in the short term, it is highly likely to maintain a volatile consolidation, and one should be cautious of further pullback risks. The medium to long-term trend depends on the project's fundamentals and the flow of market funds.
$JELLYJELLY
