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ESPORTS this wave of correction signals is obvious, and the technical aspect is worth paying attention to.
The price has fallen from the high of 0.48000 and has now broken below the MA5 (0.45334), MA10 (0.45789), and MA20 (0.45893), all of which are short-term moving averages, indicating a clear bearish alignment. Under these circumstances, short-term pressure is definitely present.
From the market view, trading volume has significantly shrunk after the rally, a typical divergence between volume and price, indicating that the bulls lack the strength to sustain the upward trend. The price is also trading below the MA60 (0.45370), suggesting considerable short-term resistance.
From a trading perspective, you can watch for opportunities in the range of 0.45100-0.45800. Setting a stop-loss at 0.46200 is more reasonable, as it is just below the recent high of 0.46999 and a key resistance level.
The two downside targets are 0.42800 and 0.40200, which are important support levels to monitor in the future.
Overall, the short-term bearish signals are quite clear, but you should operate according to your own risk tolerance.