It's a brand new coin and there's not much intel so we can make a better-educated guess so let's see what we have.
First, let's keep with the basics: Look at this last rally up, we all know: everything that goes up too fast tends to readjust, so waiting could be your friend to avoid a massive dump.
Second it's very close to the "oldest" resistance level which is reinforced by the fibonacci level at 0.000108, so the downside is huge.
Even though the volume is increasing, this is expected in such a new coin, so I would not count this as such a positive indicator.
The rest of indicators show a very overbought position plus sellers are passing buyers, so it's very likely to a readjustment.
A safe approach would be waiting a couple hours and see if it will readjust close to the up trend support(green arrow) so a good buy level with a smaller down side would be around: .000095-.0001 and watch close to the .000108 resistance level.
Or in case of breakout which is possible despite the indicators(it's a "new coin" so usually TA is not very reliable in this case) a safe abroach would be buying above the highest candle that closes COMPLETELY above the .000108 resistance level. I like to measure with 1h candles to be safe, you can use smaller time frames if you feel comfortable - the longer the safer.
In case of breakout sell target would be around: .00014, if it fails to get there get out quickly profitable, better a small smile than a big tear.
Good trading,
First, let's keep with the basics: Look at this last rally up, we all know: everything that goes up too fast tends to readjust, so waiting could be your friend to avoid a massive dump.
Second it's very close to the "oldest" resistance level which is reinforced by the fibonacci level at 0.000108, so the downside is huge.
Even though the volume is increasing, this is expected in such a new coin, so I would not count this as such a positive indicator.
The rest of indicators show a very overbought position plus sellers are passing buyers, so it's very likely to a readjustment.
A safe approach would be waiting a couple hours and see if it will readjust close to the up trend support(green arrow) so a good buy level with a smaller down side would be around: .000095-.0001 and watch close to the .000108 resistance level.
Or in case of breakout which is possible despite the indicators(it's a "new coin" so usually TA is not very reliable in this case) a safe abroach would be buying above the highest candle that closes COMPLETELY above the .000108 resistance level. I like to measure with 1h candles to be safe, you can use smaller time frames if you feel comfortable - the longer the safer.
In case of breakout sell target would be around: .00014, if it fails to get there get out quickly profitable, better a small smile than a big tear.
Good trading,