Reporters and traders flagged wild swings in $AWE after a recent OpenAI partnership pump. The token surged over 100% on the news, then fell about 35–44% in 24 hours, wiping out roughly $77 million. To see how we'll best capitalize on this opportunity, let's break it down. The price structure shows an extreme vertical spike followed by a sharp decline (a classic bull trap). The current price is trying to hold, but the previous long candle is a signal of buyer exhaustion. The high of ~$0.099 is strong resistance (an all-time high).
Given the high risk and the broken structure, the best approach is to look for levels to SELL/SHORT on small rallies (relief rallies).
Entry Area: $0.0630 - $0.0650
This is an area near the recently broken support level (which has now turned into resistance). It's also a reasonable hourly consolidation area for a retest.
Stop Loss (SL): $0.0690
Tight stop above the most recent local swing high. If the price breaks through here, it means the rally may be stronger than expected.
TP1: $0.0575
TP2: $0.0520
Move the stop-loss order to breakeven once the price reaches stop-loss order.
This position is a short-term trade. Do not hold it for too long, as the market is still highly volatile and news-driven.
Alternative Setup – Buy The Dip (Aggressive, Higher Risk)
This setup is only for very aggressive traders who understand the risks. Negative news and bearish structure make this setup highly inadvisable.
Entry: $0.0570 - $0.0580
SL: $0.0550
TP: $0.0640
Where do you think the price will go? Comment below, and don't forget to like and share if this was helpful.
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