Frax Finance ($FRAX ) - Sell the Rally ๐๐ฅ
The price recently rejected near 0.9315 after a sharp bounce from 0.78, signaling increased volatility and a lack of strong continuation. Time to look for short opportunities!
FRAX
1.1005
+6.53%
Trading Bias: BEARISH ๐ป
Ideal Entry: 0.9200 โ 0.9350 (Fade into rejection zone)
Stop-Loss: 0.9480 (Above the range high, structural invalidation)
Target 1 (TP1): 0.9000 (Pullback into EMA7โEMA25 cluster)
Target 2 (TP2): 0.8750 (Mean reversion towards prior base)
Target 3 (TP3): 0.8450 (Deeper unwind into EMA99)
If price fails to hold above 0.94, the downside risk stays elevated. A clean breakout above 0.94 would shift bias to neutral.
๐ป Trade $FRAX carefully! ๐ป