$SFP
$SFP at Extreme Oversold Levels! Potential Rebound? 📉🚀
Analysis:
SFP is currently showing signs of being heavily oversold on the 1-hour chart. It has hit the 24h low of $0.3612, and the indicators are screaming for a relief rally.
Why this is a trade to watch:
RSI Critical Level: The RSI (10) has dropped to 13, which is deep in the oversold territory. Historically, such levels often trigger a quick technical bounce.
Bollinger Bands: Price is currently trading below the Lower Band. A "mean reversion" back toward the middle band ($0.3776) is a high-probability setup.
Volume: We are seeing a cluster of selling; if buyers step in at this $0.3600 support, we could see a fast recovery.
Potential Trade Setup:
🟢 Entry Zone: $0.3610 - $0.3620
🎯 Target 1: $0.3700 (Short term)
🎯 Target 2: $0.3770 (Major resistance)
🛑 Stop Loss: $0.3570
Caution: The trend is bearish, so this is a Scalp Trade play. Manage your risk and don't over-leverage!
What are your thoughts? Is $0.3600 the bottom or will it sink further? Let me know below! 👇
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