PEAQ down 87% – Is it Time to Buy the Dip?

PEAQ has been in a brutal downtrend, dropping 87% within 92 days and printing 9 straight weekly red candles, with the 10th currently red as it trades below the weekly open. Now, price is attempting to stabilise around the key $0.10 level, hinting at a potential high-probability long trade setup.

Key Levels to Watch:

• Support: $0.10 (Price has been trying to hold this level for two days.)
  
• Resistance: $0.11 (A reclaim of this level increases the probability of a move higher.)
  
• Major Resistance: $0.1260 – $0.1280 (Weekly open + bearish order block.)
  

Technical Confluences Supporting the Trade:

• The Fib retracement from $0.1337 to $0.0989 shows that the 0.786 Fib level ($0.1263) aligns with the bearish order block from the previous trading range.
  
• The weekly open at $0.128 strengthens the take-profit zone, making it a logical exit point.
  
• Price has failed to break below $0.10, signaling a possible accumulation phase.
  

Long Trade Setup

• Entry: Around $0.10
  
• Stop Loss: Below $0.0989 (Tight SL for minimal risk)
  
• Take Profit Target: $0.1260 (Right before key resistance)
  
• Risk-to-Reward (R:R): 17:1 🚀 (Risking only 1.5% to potentially gain 25%)
  

Additional Play:
If price reclaims $0.11 with strong volume, look for order flow confirmation to add to the position. The move towards $0.12+ could be quick, as there's little resistance in between.

This setup offers a strong risk-reward ratio, making it an attractive trade with minimal downside and high upside potential. Watch for bullish momentum above $0.11, as that could confirm a stronger push to the weekly open at $0.128.