Kekius Maximus: Fibonacci Levels and Key Support Zones

5 de jan.

This coin became famous after Elon Musk changed his Twitter account name!

But what is going on exactly:

Key Resistance Zone:
The resistance around $0.21–$0.22 has been tested previously and remains a significant barrier for upward movement. If the price manages to break this zone, we could see a continuation toward higher Fibonacci extensions.

Fibonacci Levels:
The retracement levels marked in the chart highlight the price's potential correction zones. The 0.618 retracement level ($0.061) aligns closely with the lower support zone, making it a critical area to watch for buyers to step in.

Support Zone:
The $0.045–$0.061 zone is a major area of interest for potential accumulation. This area aligns with the Fibonacci golden pocket, often viewed as a prime area for price reversals in bullish setups.

Potential Scenarios:
If the price revisits the lower support zone and buyers defend it, we could see a bounce back toward the key resistance at $0.21.
Alternatively, if the price consolidates above the 0.382 level ($0.094) and breaks through the resistance without retesting the lower levels, it may indicate strong bullish momentum.
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Conclusion:
Traders should monitor the support zone around $0.045–$0.061 closely for potential long positions. Breaking the $0.21–$0.22 resistance could open doors for a significant rally. Caution is advised if the price falls below $0.045, as it might signal further downside momentum.