$SPELL /USDT – Short Setup After Exhaustion Spike
SPELL just surged nearly 40%, hitting resistance at 0.0006258 before showing signs of exhaustion. The sharp wicks and weakening momentum around 0.0005796 signal a potential pullback as buyers start to lose steam.
🔻 Short Entry Zone: 0.0005800 – 0.0005900
🎯 Target 1: 0.0005440
🎯 Target 2: 0.0005100
🛡 Stop Loss: 0.0006260 (above the recent high)
With a declining volume on the last few green candles and a failed breakout above the resistance, SPELL may retrace to key support levels.
Watch for confirmation below 0.0005700 to enter with stronger conviction.