Current price: $4.51, trending downward in a clear bearish structure.
Equilibrium zone: $4.80 – multiple failed attempts to reclaim this level, with consistent lower highs signaling seller dominance.
Support and resistance:
Current support: $4.30 ("Discount" zone).
Major resistance: $4.70.
Recent price action:
The bounce to $4.51 appears to be a classic retest of broken support, aligning with typical bear market behavior.
Trade setup:
Rated 7/10 for shorts, but caution is advised as oversold conditions are approaching.
Short entries could target $4.30, with stops above $4.70 to manage risk.
Outlook: The bearish structure remains intact unless price breaks convincingly above the equilibrium zone of $4.80.
What’s your take on this setup? Share your thoughts below! 📉👀
İşlem kapandı: durdurma seviyesi
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