$MOODENG ready for short ?
.. it's crucial to have a look first🥸🥸🥸
here’s a breakdown for a profitable short entry, DCA, and possible rejection zones:
Short Entry: The price is close to a previous high resistance level at around 0.2649. If it retests or approaches this level, it might be a good entry for a short position as there’s likely to be selling pressure.
DCA (Dollar-Cost Averaging) Levels: If someone is already in a short position and the price moves against them, they can consider DCA at each of the key resistance levels, particularly:
0.2649: This resistance level is likely to provide significant rejection.
0.2706: This level could be a higher resistance zone if the price breaks through the previous one. DCA here could bring the breakeven closer.
Expected Rejection Levels: Major rejections can happen at both the 0.2649 and 0.2706 levels, as these are historical resistance points. A significant drop could occur if the price is unable to hold above these levels.
Potential Drop (Target for Short): If the price faces rejection from the upper resistance and breaks below 0.2298, it could fall further, potentially down to:
0.1877: A previous support level, where buyers might step in.
0.1463: The maximum anticipated drop if bearish momentum is strong.
This setup provides a reasonable short entry near the top, DCA points to manage risk, and potential targets for a profitable exit. Make sure to monitor volume and RSI as well for additional confirmation.
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