$SUSHI - SHORT Setup
Entry: 0.2890 – 0.2915 (On rejection from this supply zone)
Target 1:0.2820
Target 2:0.2780
Stop Loss:0.2940 (Above the 24h high)
My View:
SUSHI is in a severe and sustained downtrend,with significant losses over the past 30 days (-62.10%) and 90 days (-58.96%). The price is currently in a weak retracement, approaching a defined resistance area. This zone is capped by the 24h high (0.2933) and aligns with a prior breakdown level. The order book shows a near-balanced volume but with immediate Ask liquidity stacked just above the current price, indicating selling pressure. 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 resistance area, anticipating a continuation of the primary downtrend towards the 24h low and potentially lower support levels.
Bias: Bearish below 0.2915. A break and sustained hold above 0.2940 would indicate a stronger corrective bounce is underway.
Disclaimer:My plan. Not advice. Trade your own risk.
