Parabolic Exhaustion
The price action went vertical. In trading, vertical moves almost always lead to equally violent corrections. We are currently seeing a "Long Upper Wick" on that most recent red candle, which means the price hit $0.47 and was immediately slapped down by sellers.
The RSI Factor
Look at that RSI(6) at the bottom: 83.43. Anything over 70 is overbought; 83 is "danger zone" territory. The momentum is stretched thin, and the "buying power" is likely exhausted for the moment.
Volume Profile
With a 24h volume of $1.34B USDT, there is massive liquidity here, but the sudden red candle suggests the "smart money" started taking profits at the $0.40+ level.
Short Entry Plan
Entry
Market price (around $0.34) or on a small "dead cat bounce" back toward $0.38.
Target
Look for a retracement to the $0.20 - $0.22 zone (previous consolidation area).
Stop Loss
Strictly above the recent peak at $0.48. If it breaks that, the parabolic run isn't over.
Long Entry Plan
Entry
Wait for a "retest" of support. If the price stabilizes around $0.30 and holds for a few 4h candles, you could scalp a move back up.
Target: $0.45.
Stop Loss: Below $0.28
Disclaimer
This is only depends on Risk management.
