$LPT /USDT SHOWS BEARISH PRESSURE AS MOMENTUM FADES
The price of $LPT/USDT has faced a sharp decline after testing resistance near $6.72. Despite a strong push earlier in the session, the market failed to sustain higher levels, leading to increased selling pressure. The price is now hovering around $6.41, marking a 1.79% decline for the day. Volume has tapered off, indicating that bullish momentum is losing strength.
The market structure suggests a potential retest of the $6.30 support zone, which is the lowest point in the past 24 hours. If this level fails to hold, further downside could push prices toward $6.10 or lower. On the upside, any recovery would require a strong move above $6.50, with the next resistance level at $6.72. The bearish trend over multiple timeframes indicates that sellers remain in control, making any breakout attempt challenging unless new buying pressure emerges.
Traders should watch for a confirmed breakdown below $6.30 before considering short positions. Conversely, if buyers regain control, a move above $6.50 could indicate a potential reversal. Until then, caution is advised in both long and short trades.
Pro Tip: Always monitor volume along with price action. A breakout without significant volume may lead to a false move, trapping traders on the wrong side of the market.
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