$PROVE /USDT – BEARISH FLAG BREAKDOWN EYEING LOWER LEVELS
$PROVE is currently trading around $1.4281, down nearly -11% in the last 24 hours, after failing to sustain any upward momentum. The chart shows a clear pattern of lower highs and lower lows, signaling persistent bearish control over price action. Recent consolidation near current levels appears to be forming a bearish flag, typically a continuation pattern pointing toward further downside.
The immediate resistance lies near $1.4420–$1.4770, with a major rejection zone extending to $1.5140. Unless bulls can reclaim and hold above this area, sellers are likely to remain in control. The red zone on the chart highlights the invalidation level for a short setup, where any sustained close above $1.4770 would negate the bearish bias.
On the downside, the first major target is the $1.3280 zone, which aligns with prior demand areas and psychological support. If momentum accelerates, price could further test the $1.1240 level — a deep support zone where buying interest may re-emerge. Both of these targets are mapped from recent price structure and historical reaction levels.
Volume trends also support the bearish case, with declining buy volume and steady selling pressure seen over recent sessions. The failure of minor rallies to generate strong follow-through buying adds weight to the possibility of another leg lower. Bears are likely to push aggressively if the $1.4200 support cracks decisively.
Short Trade Setup: Entry between $1.4300–$1.4420, Stop Loss above $1.4770, Targets at $1.3280 and $1.1240. This setup favors traders aiming to capitalize on a continuation of the downtrend, with tight risk control to avoid sudden reversal traps.