CryptoShohel
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Bearish
$MORPHO Price Struggles but Market Holds Key Support Levels
Morpho is currently navigating a challenging trading session, with its price hovering near 1.682 after a noticeable decline. The market opened with selling pressure, driving the asset down toward 1.610, which emerged as a solid support zone. This bounce from the lower level signaled that buyers are not yet out of the game. The strong green candles that followed briefly shifted momentum upward, pushing the price to a high of 1.737 before meeting resistance. This resistance created a barrier that the market failed to break, resulting in a new consolidation phase. Morpho is now stabilizing, and traders are closely watching whether it can build strength again.
The current chart structure shows mixed signals. On one side, the rebound indicates that buyers are active at lower prices. On the other side, the presence of consecutive red candles highlights hesitation and profit-taking. This balance between buying and selling pressure creates sideways movement, usually a sign that the market is preparing for its next major direction. The SAR indicator remains below the candles, suggesting that the short-term trend still favors upward continuation, but only if buyers can reclaim momentum.
Volume plays an important role in the current scenario. The highest volume candle came during the bullish recovery, indicating strong demand during the bounce. But as the price approached resistance, the volume gradually decreased, showing a lack of confidence in pushing higher. This is why the market is now slowing down. A fresh volume surge will be needed to break above the 1.720–1.737 region.#Morpho @Morpho Labs 🦋
{spot}(MORPHOUSDT)
$MMT
{spot}(MMTUSDT)
Morpho is currently navigating a challenging trading session, with its price hovering near 1.682 after a noticeable decline. The market opened with selling pressure, driving the asset down toward 1.610, which emerged as a solid support zone. This bounce from the lower level signaled that buyers are not yet out of the game. The strong green candles that followed briefly shifted momentum upward, pushing the price to a high of 1.737 before meeting resistance. This resistance created a barrier that the market failed to break, resulting in a new consolidation phase. Morpho is now stabilizing, and traders are closely watching whether it can build strength again.
The current chart structure shows mixed signals. On one side, the rebound indicates that buyers are active at lower prices. On the other side, the presence of consecutive red candles highlights hesitation and profit-taking. This balance between buying and selling pressure creates sideways movement, usually a sign that the market is preparing for its next major direction. The SAR indicator remains below the candles, suggesting that the short-term trend still favors upward continuation, but only if buyers can reclaim momentum.
Volume plays an important role in the current scenario. The highest volume candle came during the bullish recovery, indicating strong demand during the bounce. But as the price approached resistance, the volume gradually decreased, showing a lack of confidence in pushing higher. This is why the market is now slowing down. A fresh volume surge will be needed to break above the 1.720–1.737 region.#Morpho @Morpho Labs 🦋
{spot}(MORPHOUSDT)
$MMT
{spot}(MMTUSDT)
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