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The rapid drop in market price and the expected increase in trading density have already fallen short. Observing the market, it is clear that buying power is weakening, while selling pressure is gradually taking control of the rhythm. The overall downward momentum is still being released.
From a technical perspective, buyers have already shown some weakness in this wave of correction. If the price continues to break down in the short term, it may accelerate further downward.
Trading recommendations:
Set stop-loss about 10 points above key resistance levels to leave room for a rebound.
Take profit in two stages: the first target is based on recent support lines, and the second target directly points to the lower boundary formed by previous oscillations.
If you miss this opportunity, it’s not too late to follow a short position when the market picks up again later, as the technical signals for STO coins are still relatively weak.