$TOSHI /USDT Massive Spike Followed by Pullback – Bull Flag or Distribution
TOSHI is currently trading around 0.0002458 after posting a strong 27 percent move on the 15m timeframe. Price exploded from the 0.0002161 base and printed a sharp high at 0.0003025 before facing aggressive rejection. Since then, we are seeing a controlled pullback with lower highs forming.
Technical Analysis:
Immediate resistance is clearly marked at 0.0002640 – 0.0002840, where sellers stepped in after the spike. The major resistance remains at 0.0003025, the recent wick high.
On the downside, first support sits near 0.0002400, which is currently being tested. If this level fails, the next strong demand zone lies around 0.0002280. Major structural support remains at 0.0002160, the origin of the breakout.
The price structure shows a classic pump followed by consolidation. Momentum has cooled, suggesting RSI likely pulled back from overbought territory. Without a strong bounce, the pattern could evolve into either a bull flag or a deeper retracement. Volume behavior will be key here.
Market Sentiment:
Short-term sentiment is Neutral after the initial bullish impulse. Buyers need to defend 0.0002400 to maintain bullish structure.
Strategy:
Wait for confirmation. A strong reclaim of 0.0002640 could trigger continuation toward 0.0003025. However, a breakdown below 0.0002400 may open room toward 0.0002280. Risk management is critical after volatile moves.
Do you think TOSHI is forming a bull flag for another leg up, or is the hype cooling down?
Not Financial Advice (NFA).
#BinanceSquare #Write2Earn #TOSHIUSDT #CryptoTrading #Memecoins