š» $MUBARAK /USDT Short Setup Developing After Channel Top Rejection! šØ
$MUBARAK has sharply rejected the upper boundary of its ascending channel, signaling a possible pullback as momentum fades near resistance.
š Market Structure Highlights:
ā¢ Trading within a rising parallel channel
ā¢ Clear rejection from the upper trendline
ā¢ Potential to retrace toward the lower channel support or nearby demand zone
š§ Key Technical Signals:
ā¢ Bearish candles forming after an overextended rally
ā¢ Mid-channel area showing weak support
ā¢ Strong demand cluster around $0.0345ā$0.0340
š Short Trade Setup (Futures):
ā¢ Entry Zone: $0.03730 ā $0.03750
ā¢ Target 1: $0.03650
ā¢ Target 2: $0.03530
ā¢ Target 3: $0.03450
ā¢ Stop Loss: $0.03846
ā Pro Tip:
A clean break below $0.03700 could confirm the reversal. Great for scalpers or intraday traders with disciplined risk control.
ā ļø Strong resistance at the channel top if this breaks, the move down could accelerate quickly!