$PROM / 🔻 BEARISH PRESSURE BUILDING – SHORT OPPORTUNITY AHEAD! 🔻
📉 Technical Analysis:
$PROM is currently trading at $5.388 (+0.92%), but price action is showing signs of weakness near resistance zones. Lower highs and fading momentum suggest a possible pullback or bearish reversal on short-term timeframes.
📌 Key Levels:
Resistance:
🔼 $5.42 (Immediate selling zone)
🔼 $5.44 (Major resistance)
Support:
🔽 $5.34 (Minor support)
🔽 $5.29 (Strong support/demand zone)
🔻 Trade Setup: SHORT ENTRY
📤 Entry: $5.40 – $5.42 (on rejection or bearish candle confirmation)
📉 Target 1 (TP1): $5.34
📉 Target 2 (TP2): $5.29
📈 Stop Loss (SL): $5.45
🔄 Risk/Reward Ratio: ~1.8
A rejection from the $5.42 resistance zone could trigger a move down toward key support levels. Watch for volume confirmation and rejection wicks! 🔍
⚠️ Risk Management:
Risk only 1-2% per trade, and always use tight SL. Let the market come to you — don't chase! 🛡️
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