$RESOLV - SHORT Setup
Entry: 0.0740 – 0.0745 (On rejection from this resistance zone)
Target 1:0.0732
Target 2:0.0728
Stop Loss:0.0749 (Above the 24h high)
My View:
RESOLV is entrenched in a severe downtrend across medium timeframes,with significant losses over the past 90 days (-60.83%) and 30 days (-9.24%). The price is currently in a weak consolidation near the top of its recent range, approaching a defined resistance area. This zone is capped by the 24h high (0.07671) and aligns with a prior breakdown level. The order book shows significant Ask liquidity stacked just above the current price, indicating selling pressure is present. Price action shows a clear breakdown structure, and the current bounce lacks the momentum to challenge the established bear trend, appearing corrective. The plan is to enter a short position on a confirmed rejection from the defined supply zone, anticipating a continuation of the primary downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.0745. A break and hold above 0.0749 would indicate a stronger corrective bounce is in play.
Disclaimer:My plan. Not advice. Trade your own risk.
#Resolv