Price Action Analysis for Token
#OPEN The chart shows
$OPEN on a 3-hour timeframe indicating that the price has entered a downward corrective wave after a strong bounce that failed to break the pivot point. Currently, the price is trading at $0.1878. It is moving below the moving averages, which have started to cross negatively, putting downward pressure on it. Based on Fibonacci retracement levels, the upcoming price levels are as follows:
Pivot Point (PP): Located at $0.2073, breaking and holding above this level is key for a return to a bullish trend.
Target Resistance Levels: If the price manages to break above the pivot point, the bullish targets are set at TP1: $0.2350, then TP2: $0.2630, up to TP3: $0.2912.
Protective Support Levels: The level ST: $0.1807 acts as the first line of defense for buyers, while the bottom ST: $0.1569 serves as the main support level and last safety net.
The most likely scenario is a continued short-term drop to test the first support level at $0.1807 before any new bounce attempt.
#OPEN #OpenANX #Crypto #AIMONACCI #OpenLedger