$SNT Technical Analysis – Weak Momentum Amid Consolidation
The $SNT pair is trading at $0.04238, down by 4.85% in the last 24 hours, signaling ongoing bearish pressure. The price is consolidating near its recent lows, with volatility narrowing as traders await the next decisive move.
Market Behavior
On the 1-hour chart, $SNT has exhibited a pattern of lower highs and lower lows, indicating a persistent downtrend. The support zone around $0.04200 is being tested repeatedly, reflecting buyers' attempts to hold the price at this level. However, a lack of strong bullish volume limits the potential for immediate recovery.
The current resistance stands near $0.04500, a level that the price needs to break to signal a shift in momentum. Failing to clear this zone could result in further declines toward $0.04150 or lower.
Trading Strategy
Entry for Long Positions: Look for entries in the $0.04180–$0.04220 range if the support at $0.04200 holds.
Target Levels:
Target 1: $0.04400
Target 2: $0.04500
Stop Loss: Place stop loss below $0.04150 to manage downside risk effectively.
Observation
The RSI indicates oversold conditions, hinting at a potential short-term bounce. However, traders should remain cautious and wait for confirmation of reversal signals, such as higher lows or increasing volume. Until then, the bearish momentum may persist.
