$NEWT /USDT: Downward pressure still exists - slight rebound, but the downward trend remains intact
After falling to $0.2719, $NEWT showed a slight rebound, but the market structure remains weak. The price is struggling to regain the $0.2800 level, indicating that sellers are still in control of the market. Unless a strong breakout occurs above the resistance level, further decline seems more likely.
Trading Setup (Short Entry):
Entry: 0.2770 - 0.2790
Target 1: 0.2720
Target 2: 0.2680
Target 3: 0.2620
Stop Loss: 0.2835
Market Outlook:
Momentum is bearish with lower highs forming. Failure to regain the $0.2800 level will lead to further selling pressure. Bulls need a strong push in trading volume above $0.2850 to change the momentum; otherwise, bears will remain in control.
#Binance #NEWTUSDT #trading #altcoins
Buy and trade here on $NEWT