Token

Cryptocurrency

ConstitutionDAO

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/constitutiondaos-people-token-faces-critical-support-and-correction-scenarios/" data-wpel-link="internal">ConstitutionDAO’s PEOPLE Token Faces Critical Support and Correction Scenarios</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/3-undervalued-altcoins-offering-potential-investment-opportunities/" data-wpel-link="internal">Altcoin</a> ConstitutionDAO’s (PEOPLE) impressive 81% rise in less than 48 hours is raising concerns as signs of exhaustion emerge. The Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators are showing a bearish divergence, signaling the potential for a trend reversal. As the altcoin faces a critical juncture with an 18% correction possibility looming, investors need to be on alert. It should be noted that the altcoin has increased by 300% in the last 4 days.</p> 
<h2 style="text-align: justify" id="critical-support-and-correction-scenarios-for-altcoin-people">Critical Support and Correction Scenarios for Altcoin PEOPLE</h2> 
<p style="text-align: justify">The current position of Altcoin PEOPLE, trading above a critical support level, is becoming a focal point for investors. Breaking below this support level could trigger a selling frenzy, leading to an 18% correction.</p> 
<p style="text-align: justify">The anticipated correction targets a stable support level around $0.0354, which represents the low volume point of the recent surge. However, a significant development is pending confirmation.</p> 
<h2 style="text-align: justify" id="confirmation-and-potential-downside-in-cryptocurrency">Confirmation and Potential Downside in Cryptocurrency</h2> 
<p style="text-align: justify">A drop below the support level of $0.0421 for Altcoin PEOPLE would confirm a bearish outlook. In such a scenario, ConstitutionDAO could experience a 15% correction targeting $0.0354. The downside risk could potentially extend to $0.0328, aligning with the checkpoint of the recent 81% rally.</p> 
<p style="text-align: justify">While the bearish trend and momentum indicators paint a cautious picture, investors should watch for potential support at $0.0370. This level is significant as it aligns closely with an inclined trend line. A bounce from this support barrier could add a resilience factor to the trajectory of altcoin PEOPLE.</p> 
<h2 style="text-align: justify" id="invalidating-the-bear-thesis-a-look-at-the-upside-potential">Invalidating the Bear Thesis: A Look at the Upside Potential</h2> 
<p style="text-align: justify">Considering the current momentum indicators, the bearish outlook seems justified. However, a notable scenario emerges if the altcoin PEOPLE’s price recovers from the $0.0370 support.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-299039 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/people-cointurk.png" alt="" width="1547" height="849"></p> 
<p style="text-align: justify">Such a recovery, reaching a higher peak beyond the previous local top at $0.0466, would invalidate the bearish thesis. This bullish development could potentially trigger a 7% rally, bringing the altcoin PEOPLE to the psychological level of $0.050.</p> 
<p style="text-align: justify">ConstitutionDAO’s PEOPLE token finds itself at a turning point with potential correction and reversal scenarios on the horizon. Investors should closely monitor the $0.0370 support level and the confirmation point at $0.0421. The delicate balance between bearish indicators and potential resilience at key levels underscores the importance of a careful approach in steering the current fluctuation.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/constitutiondaos-people-token-faces-critical-support-and-correction-scenarios/" data-wpel-link="internal">ConstitutionDAO’s PEOPLE Token Faces Critical Support and Correction Scenarios</a></h5>

ConstitutionDAO’s PEOPLE Token Faces Critical Support and Correction Scenarios

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