📉 $EGLD /USDT – Short Setup Loading After Rejection Near $17 🚨
EGLD is facing strong selling pressure after failing to hold above $17.00. The price has dropped to $15.93, with a local low of $15.29, signaling possible further downside.
🔍 Analysis:
• Strong rejection from resistance at $17.00–$17.30
• High sell volume and weak bounce attempts
• Bearish sentiment growing as it trades below key moving averages
🔻 Short Setup (Bearish Bias):
• Entry Zone: $16.40 – $16.90
• Stop Loss: Above $17.40
• Target 1: $15.50
• Target 2: $14.80
• Final TP: $14.00
This setup offers a clean R:R if momentum continues. Watch for a breakdown below $15.70 to confirm.
