$jellyjelly Breaking Out or Just Another Fake Pump
JELLY is currently trading around 0.07335 with a steady intraday gain, and the 15m chart shows a short-term recovery structure forming after bouncing from the 0.0688 low. Price is now pushing toward local resistance near 0.0738 to 0.0740, which has already rejected price once. A clean break and close above 0.0740 could open the door toward 0.0760 and higher.
Key support levels are clearly visible around 0.0717 and 0.0707. If price loses 0.0717, momentum could fade quickly and revisit the 0.0700 zone. Below that, 0.0688 remains the major short-term support.
Although RSI and MACD are not directly shown, the recent higher lows and strong green candles suggest improving momentum. Buyers are stepping in aggressively on dips, which reflects short-term bullish pressure. However, the repeated wicks near 0.0738 show that sellers are still active at resistance.
Market sentiment right now is Neutral to Slightly Bullish. Structure favors buyers, but confirmation requires a breakout above 0.0740 with strong volume.
Strategy wise, aggressive traders can consider trading the breakout above 0.0740 with tight risk management. Conservative traders should wait for either a confirmed breakout and retest or a pullback toward 0.0717 support. My call: Wait for confirmation before heavy exposure.
Are you expecting a breakout toward 0.08 next, or do you think this is a local top forming?
Not Financial Advice. Always manage your risk.
$jellyjelly
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