$WING / USDT Showing Signs of Potential Downtrend: Exercise Caution 📉

$WING is currently trading at $1.221, experiencing a significant -1.37% decrease on the 4-hour chart. The price action reveals a series of lower highs and lower lows, suggesting a potential shift towards a bearish trend.

The recent downward movement has broken below a key support level, indicating increased selling pressure. If this momentum continues, the next significant support level to watch would be around $1.150.

Traders should exercise caution and consider potential short positions if the price fails to recover above the broken support. If entering a short position, consider setting a target around the $1.150 level and implementing a stop-loss above a recent high (e.g., $1.250) to manage risk.

It's crucial to monitor volume and any potential reversal signals. A strong bullish reversal above the previous support level could invalidate this bearish outlook. Stay informed and trade carefully! 🐻