Looking at the recent trend of BREV, this pullback is indeed quite fierce. From the 1-hour candlestick chart, after spiking to 0.4244, it lost momentum immediately. Currently, it has fallen to 0.3880, with the MA5, MA10, and MA20 moving averages all broken, indicating very weak support levels.
The RSI(6) is now at 43.7395, entering a neutral to slightly bearish zone. The MACD has also started to show green bars, with DIF and DEA close together at (-0.0015 and -0.0022), respectively. All these signals point to the bears gaining the upper hand. More importantly, the bulls are unable to hold the position, giving the impression that the main force has finished unloading and is now dumping the price.
From a trading perspective, the current price of 0.3880 is a shorting entry point. Place your stop-loss above the previous high of 0.4244. Looking downward, the first target is 0.3672 (the lowest in 24 hours). If that level breaks, then focus on the 0.3600 round number support.
Trend traders should hold firmly, while short-term traders should consider taking partial profits at support levels to avoid the main force accelerating the dump with this breakdown pattern, which could directly break key supports.
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Looking at the recent trend of BREV, this pullback is indeed quite fierce. From the 1-hour candlestick chart, after spiking to 0.4244, it lost momentum immediately. Currently, it has fallen to 0.3880, with the MA5, MA10, and MA20 moving averages all broken, indicating very weak support levels.
The RSI(6) is now at 43.7395, entering a neutral to slightly bearish zone. The MACD has also started to show green bars, with DIF and DEA close together at (-0.0015 and -0.0022), respectively. All these signals point to the bears gaining the upper hand. More importantly, the bulls are unable to hold the position, giving the impression that the main force has finished unloading and is now dumping the price.
From a trading perspective, the current price of 0.3880 is a shorting entry point. Place your stop-loss above the previous high of 0.4244. Looking downward, the first target is 0.3672 (the lowest in 24 hours). If that level breaks, then focus on the 0.3600 round number support.
Trend traders should hold firmly, while short-term traders should consider taking partial profits at support levels to avoid the main force accelerating the dump with this breakdown pattern, which could directly break key supports.