$SPK

USDT BEARISH BREAKDOWN – MORE SELL PRESSURE LIKELY IF SUPPORT FAILS!

SPKUSDT is currently trading at 0.031920, showing a strong bearish momentum after a sharp breakdown from consolidation. Price has formed consistent lower highs and lower lows on the hourly chart, indicating sellers’ dominance.

🔑 Key Levels:

Resistance: 0.034000 – 0.035000 zone

Support: 0.031800 (current local support), if broken, next support lies near 0.030500

📊 Trade Setup:

Entry (Short): Below 0.031800 confirmation

Take Profit (TP):

TP1: 0.030800

TP2: 0.030500

Stop Loss (SL): 0.033000

📈 Market Outlook: Bearish momentum is strong with no immediate reversal signs. Breakdown continuation towards next support levels is likely unless bulls step in aggressively to reclaim the 0.034000 resistance zone.

⚠️ Risk Management: Always use strict stop-loss to protect capital in such breakdown trades. Risk only 1-2% of your portfolio per trade to manage unexpected reversals.

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