The market faced a free-fall mode after losing a major support level recently. With panic-selling still going on, is there light at the end of the tunnel?🤒 Read more to find out!👇 CMCAlexandria Author: youngcryptowolf Editor: YousraAASheikh
If there is a 4-hour close above the new area of interest, expect to see a push towards 4050. However, if there is a rejection from this level, expect to see a new June low.Since last week, we have seen rejection from resistance and a new local bottom at 480. The bears remain in full control until we reclaim major support.Since losing the level, we have seen lower highs and lower lows.If there is a 4-hour close above the minor resistance shown, expect to see the price at 650.
Taking a closer look at our most recent price action, we can see that SAITAMA is looking to break its downtrend. The question is whether there are enough bulls to get this momentum going.If there is a 4-hour close above our new area of interest, expect to see a higher high. However, if there is a rejection from this level, expect to see some further consolidation.
Something to look out for this week is if the new local bottoms will hold as support. Losing these levels would send memecoins further into the abyss. Remember that this is all based on the subjective views of the writer. As always do your own research. Not sure whether to invest your hard-earned money in crypto or stocks? Check out our comprehensive guide onThis article contains links to third-party websites or other content for information purposes only . The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site.
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