$AXL / USDT Short Trade Consideration: Observing Potential Weakening Momentum Near Resistance

$AXL / USDT has recently encountered resistance around the $0.3678 level (24h High), showing signs of a potential pullback. After a notable upward move, the price action indicates a decrease in bullish momentum as it consolidates near $0.3605. Increased selling volume on the 4-hour chart, coupled with the recent rejection at the high, suggests a possible move towards lower support levels.

Currently trading at $0.3605, a break below the immediate support level could signal further downside. Monitoring price action closely for confirmation of weakening momentum.

Potential Trade Setup (for informational purposes only - not financial advice):

* Potential Entry: Consider entries below 0.3600 if bearish momentum confirms.

* Potential Take Profit: Targetting previous support levels, e.g., 0.3500 or lower.

* Potential Stop Loss: Place stop-loss orders above the recent high (0.3678) to manage risk.

The current technical picture suggests a cautious approach, observing if the resistance holds and if selling pressure intensifies. Always practice robust risk management in your trading activities.

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