🔥 $BLESS USDT BOTTOMED OUT? Recovery or Trap? 📉
BLESS (Bless Network) has taken a massive hit recently, dropping from its January highs near $0.0116. However, the 4-hour chart is finally showing signs of life as it tries to claw back from the $0.0071 bottom. Currently trading at $0.00864, BLESS is at a critical "make or break" junction.
The Technical Breakdown 🔍
The Trend Shift: After a steep sell-off, the price has finally pushed above the EMA(7) (0.0085), but remains heavily suppressed by the EMA(25) (0.0092) and EMA(99) (0.0109).
MACD Insight: We are seeing a Bullish Crossover on the MACD! The green histogram bars are growing, suggesting that the selling pressure is exhausted for now.
RSI Recovery: The RSI (6) has climbed to 49.53 from extreme oversold levels. It’s currently in neutral territory, meaning there's room for a bounce if volume holds.
Fundamental Context: As a DePIN project powering AI computing, BLESS is highly sensitive to the broader AI narrative. With Bitcoin currently under pressure below $89k, BLESS needs strong independent volume to sustain this move.
🎯 THE STRATEGIC TRADE SETUP
🚀 LONG SETUP (The Relief Rally)
Entry: Above 0.00890 (Wait for a 4H close above current local resistance).
Targets: 0.00927 | 0.01000 | 0.01095 (Major Resistance).
Stop Loss: 0.00810 (Below recent support).
📉 SHORT SETUP (Trend Continuation)
Entry: Rejection at 0.00920 or a break below 0.00830.
Targets: 0.00766 | 0.00710 (Deep Support).
Stop Loss: Above 0.00950.
💡 Pro Insight
The market is currently in a "Risk-Off" mode. While BLESS shows a local bottom, be wary of "fakeouts" near the EMA(25). A successful flip of 0.0092 could trigger a fast short-squeeze toward 0.011! 🛡️
Is this the dip you've been waiting for, or is there more pain ahead? 💎 Share your thoughts!