📉 Chart Summary (1-Hour Timeframe)
Current Price: $0.5103
24H Change: -7.49%
Recent Low: $0.5070
Trend: Clear downtrend after a sharp selloff from above $1.20.
Moving Averages:
Short-term MAs (e.g., 7 EMA, 25 EMA) are sloping downward.
Price is trading below all key MAs—bearish sign.
Order Book:
Sell Pressure: 55.58%
Buy Pressure: 44.42%
Indicates slight dominance by sellers.
---
🔍 Technical Observations
Bearish Momentum: A steep decline followed by consolidation and lower highs.
No Clear Reversal: No bullish candlestick patterns or divergence indicating a reversal yet.
Volume: Low and declining, suggesting weak buyer interest at this level.
Support Zone: Around $0.50 – psychological and recent low.
Resistance Zone: Around $0.54 – previous bounce zone and MA pressure.
---
⚙️ Trade Setup (Short Bias)
> Trade Type: Short (Sell) Setup – Trend continuation trade
📌 Entry:
Consider short entry on rejection near $0.525 - $0.530, if price retraces to moving average resistance.
🎯 Targets:
TP1: $0.490 – Near-term support
TP2: $0.460 – Previous minor support
TP3: $0.420 – Extended target if breakdown continues
🛡️ Stop-Loss:
SL: Above recent swing high at $0.540 – invalidates the setup if price breaks above.
