$TAG Market Update: Correction Phase Analysis
$TAG experienced a $1.392K long liquidation at $0.00038, signaling ongoing selling pressure. Price remains below key moving averages — 7-day, 30-day, 50-day, and 200-day — confirming broader bearish momentum. The break below the main pivot point and key Fibonacci retracement levels reinforces downside risk. RSI is in oversold territory, suggesting potential short-term relief bounces, while MACD continues to reflect bearish control.
The 24-hour price range shows declining volume and net outflows, highlighting cautious market participation. Immediate support is at $0.000375, with a stronger zone between $0.000372–$0.000376. Downside risk extends toward $0.000368–$0.00037, while near-term resistance lies at $0.000385–$0.000388 and $0.00039–$0.000392.
Short-term bounces may occur due to oversold conditions, but the broader trend remains weak until major resistance levels are reclaimed. Watch for volume confirmation on any reversal attempt. DYOR.
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