Breaking Market Update:
$REZ 6-Hour Outlook
Bearish pressure continues to dominate the short-term landscape for
$REZ , with price action consolidating uncomfortably close to its key support region. The market tone remains cautious, and the current structure suggests that further downside risk cannot be ignored.
At present,
$REZ is trading marginally above the critical support zone at 0.00670, a level that has repeatedly acted as a defensive barrier for buyers. The nearest resistance is positioned at 0.00696, and the price has struggled to reclaim this level, reinforcing the broader bearish bias. As long as
$REZ remains below 0.00696, the market structure favors continuation to the downside.
If selling pressure persists, the next logical targets lie at 0.00667 and 0.00631. A sustained move below 0.00667 would represent a decisive break of structural support, potentially accelerating momentum toward deeper bearish zones.
However, traders should note that any formation of bullish reversal patterns around or slightly below 0.00667 could offer a short-term opportunity for a recovery move. Should such a setup emerge, potential upside targets would include 0.00696 as the first major test and 0.00716 as the next resistance level.
In summary, the market remains in a vulnerable position. A close above 0.00696 would be needed to shift sentiment, while a close below 0.00667 may confirm the continuation of the current downtrend. Until one of these levels breaks decisively, traders are likely to maintain a cautious and reactive approach.
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