$NEWT USDT BEARS STILL IN CONTROL – WILL SUPPORT HOLD THIS TIME?

Current Price: $0.3086 (+0.52%)

$NEWTUSDT remains under bearish pressure, trading near the lower end of its recent range. Despite minor buying at current levels, sellers continue to dominate below resistance.

🔑 Key Levels:

Support 1: $0.3050 (strong intraday support)

Support 2: $0.3034 (24h low, crucial to hold)

Resistance 1: $0.3100 (immediate resistance)

Resistance 2: $0.3150 (major resistance and rejection zone)

📝 Trade Setup:

Position: SHORT

Entry Zone: $0.3095 – $0.3110

Target 1 (TP1): $0.3060

Target 2 (TP2): $0.3035

Stop Loss (SL): $0.3130

📊 Market Outlook:

Momentum is bearish with lower highs forming on the chart. A break below $0.3050 will further strengthen the downtrend, potentially testing $0.3034. However, any hourly candle close above $0.3100 could invalidate the short setup and lead to a short-term bullish reversal towards $0.3150.

⚠️ Risk Management:

Use tight stop losses. Risk only 1-2% per trade capital. Avoid overleveraging as the market is in a consolidation zone with potential fakeouts.

buy and trade here on $NEWT

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