Current Market Situation – $JELLYJELLY (5m)
Price is currently trading around 0.0760, holding above the recent low at 0.0706, which acts as a short-term support zone.
From the chart:
Price is moving sideways inside a range, indicating consolidation after a strong drop.
EMA 50 is below EMA 10 & EMA 20, showing the trend is still weak, but selling pressure has slowed.
RSI (6 & 12) is in the lower range (around 35–45), suggesting the price is near oversold territory and a bounce is possible.
Stochastic RSI is also near the bottom, indicating potential short-term bullish reaction.
MACD is flat and close to zero, showing momentum is weak but starting to stabilize.
Key Levels:
Support: 0.0700 – 0.0720
Resistance: 0.0800 – 0.0880
Conclusion: As long as price holds above the 0.070 support, the long setup remains valid.
A bullish move is likely to start with a slow push, not an instant pump.
If price breaks and holds above 0.080, continuation toward 0.087 becomes more realistic.
Risk management is crucial cut immediately if support fails.