⚡ $RED Under Pressure – Can Bulls Defend the Floor?

RED is trading at 0.4762, down -7.66% on the day. The token touched an intraday high of 0.5334 and a low of 0.4685, showing heavy volatility as sellers took control.

🔎 What’s Driving the Move?

Momentum Loss: After recent strong gains in the past 90 days (+75.88%), is now cooling off as short-term traders book profits.

Volume Watch: With 13.81M $RED changing hands, there’s still strong market activity, but the imbalance shows selling pressure outweighing buys.

Market Sentiment: The daily chart suggests a correction phase, but long-term holders remain in profit, keeping the broader trend intact.

📊 Key Levels

Support: 0.468 – immediate floor, already tested intraday. If it cracks, next support lies near 0.455.

Resistance: 0.488 – short-term ceiling. Stronger resistance sits around 0.50.

📈 Trend

Short-Term: Bearish due to sharp red candles and inability to hold above 0.48+.

Mid-Term: Neutral to bullish, thanks to strong 30D and 90D performance.

💡 Trade Idea

Buy Setup: If defends 0.468 and reclaims 0.488, bulls could attempt another push toward 0.50+.

Sell Setup: If $RED breaks below 0.468 with volume, expect deeper downside toward 0.455–0.440.

✅ Possible Trade Right Now: SELL (short-term bearish bias).

But aggressive traders may consider buying dips near 0.468 only if clear bounce confirmation appears with rising volume.