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Is the bleeding finally over for $PHA ?
We just tapped 0.0291 and saw a decent bounce back up to 0.0324. It’s been a rough ride lately with those red candles, but the order book is actually showing some strength now.
Bids are outweighing and asks at about 66% which is a good sign for a short term bottom.
The next big hurdle is reclaiming the 0.036 level. If we can’t flip that back to support, this is just a relief bounce before another drop. Volume is sitting at 55M so there is enough eyes on it to make a move.
I’m watching for a higher low to form here. If we hold 0.031 on the retest, we might actually see a reversal toward that 0.040 range again.
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