$RED /USDT – Bearish Setup After Lower High Formation
RED has shown a temporary recovery but got rejected at $0.3639 resistance, forming a clear lower high on the 15m chart. The price action indicates selling pressure with a bearish engulfing candle near resistance.
Current Price: $0.3561
24H High / Low: $0.3746 / $0.3352
24H Volume (RED): 21.61M
Short Trade Plan:
Entry Zone: $0.3560 – $0.3575
Final Target: $0.3443
Stop Loss: $0.3639
Why This Setup Makes Sense:
Sellers dominating after multiple failed attempts to push higher. Momentum fading, and structure shows possible drop to support zone near $0.3440.
Risk Strategy: Consider partial profits near $0.3490 and trail SL to breakeven on breakdown confirmation.
Take short trade now on $RED