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Binance Technical Analysis: Bearish Trend Outlook for $LOKA /USDT

The $LOKA

/USDT pair is showing a bearish trend as it approaches key support levels. Here's a breakdown of the potential trade setup:

Entry Level: 0.0535 USDT

The ideal entry point for this short position is near the 0.0535 mark, as the price is expected to continue downward momentum.

Target Levels:

First Target: 0.0500 USDT

Second Target: 0.0480 USDT

These targets align with the next key support zones, offering potential profits as the price moves lower.

Stop Loss: 0.0580 USDT

To manage risk, set your stop loss around the 0.0580 level. This will help limit losses if the trend reverses.

Trend Outlook:

The bearish trend is backed by consistent resistance near 0.0580, with price failing to break above this level. Keep an eye on market momentum for confirmation of further downward movement.