📉 TOWNS/USDT Alert: Massive Crash.. Is this a 'Dip' or will it fall further? 📉
Currently, TOWNS coin is facing heavy selling pressure in the market. It has dropped nearly -11.04% in the last 24 hours and is currently trading around $0.00572.
What does the chart say? (Technical Analysis):
• Down Trend: Observing the 4-hour chart, the price is consistently falling, indicating a strong Bearish Trend.
• Support Level: It is currently very close to its 24-hour low of $0.00547.
• Volume: There is significant trading volume even during the price drop, which means sellers are currently dominating the market.
🤔 Should you Buy now? (Buy or Wait?)
Many people feel like buying immediately when the price drops (Dip Buying), but keep these points in mind:
• 🛑 Wait (Avoid): There are no signs of a 'reversal' (price going back up) on the chart yet. Since the price hasn't stabilized, buying impulsively now could be risky.
• ✅ When to Buy?: If the price takes strong support at $0.00547 and green candles start appearing, only then can you consider a small entry.
• ⚠️ Stop Loss: If you do choose to take the risk, it is crucial to set a Stop Loss below $0.00540 to manage your downside.
Conclusion:
For now, "Wait and Watch" is the best strategy. Do not rush until the market trend changes ⏳.
What are your thoughts on this coin? Do you think it will bounce back? Comment below! 👇
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