📉 $SYRUP /USDT - Short-term setup near the resistance zone
The pair $SYRUP shows signs of exhaustion after a slight rebound, as the price faces strong resistance between $0.67 and $0.59. The four-hour chart shows the formation of lower highs and a decrease in trading volume - which warns of another downward wave if support is broken.
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🟥 Short entry zone:
$0.6700 - $0.5900
🎯 Take profit targets (TP):
1. $0.5500
2. $0.5100
3. $0.4680
4. $0.4200
5. $0.3850 or more
🛑 Stop loss (SL):
$0.6850 (above the last swing high)
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📊 Technical notes:
The relative strength index is trending downward despite the price being stable - hidden bearish divergence
The price is testing the previous breakdown zone
A bearish crossover of the exponential moving average (EMA) on the four-hour timeframe
The failure to regain the $0.67 level indicates weakness
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📝 Note: A confirmation of the drop below the $0.5900 level with increased trading volume will confirm the continuation of the bearish trend. Be cautious if Bitcoin rises sharply, as alternative currencies may follow.
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