Tesla (TSLA) Price Analysis: Strong Downtrend with Further Decli

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Tesla (TSLA) Price Analysis – Strong Downtrend Continues
Chart Overview:
The TSLA price chart is on the 1-hour timeframe, showing a clear downtrend.
A descending trendline has been drawn from the recent highs, confirming bearish momentum.
The price has sharply declined, and a retracement zone (shaded area) has been marked, indicating a potential area for price rejection.
A red arrow projection suggests further downside movement.
Key Observations:
Downtrend Confirmation

The price has consistently made lower highs and lower lows, confirming a bearish structure.
The red trendline shows a steady decline, with no signs of reversal yet.
Potential Retracement & Continuation

The price is approaching a resistance zone (~$300-$322) where sellers might step in again.
If the price fails to break above this zone, it is likely to continue downward.
Downside Target

The projected bearish target is near $240-$220, as indicated by the extended red arrow.
Conclusion:
Bearish Bias: TSLA is in a confirmed downtrend, with further downside expected.
Resistance Zone: Watch for price action near $300-$322; rejection could push the price lower.
Support Levels to Watch: $270, $240, and potentially $220.

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