Technical analysis by ben_walther about Symbol BETA: Sell recommendation (7/12/2024)

BETA finds itself in a considerable downtrend. Lately, the token crashed through the support at 0.065. This level has served as support since the end of June. In addition, BETA flashed a bearish trade signal called "Parabolic Trader." This trading strategy combines the MACD, EMA, PSAR, and ADX to provide accurate entries. Based on backtests, the signal shows very high reliability in reaching profit targets of 5% and more. The signal forecast a profit target of 8%. As a result, BETA would reach the next support level at ~0.53.