$RED /USDT – Bearish Breakout in Progress!

Momentum Analysis: RED/USDT has seen a drop of 4.56%, signaling bearish momentum after touching a 24h low of 0.3955. The price is currently hovering at 0.3976, below the key resistance zone around 0.4107. There is increased selling pressure, and the trend suggests more downside potential.

Short Setup:

Entry Zone: Around 0.3976

Targets:

T1: 0.3950

T2: 0.3900

T3: 0.3800

Stop Loss: 0.4050 (above resistance)

Breakout Confirmation Level & Key Support: A solid breakout below 0.3955 confirms the bearish sentiment, with key support near 0.3950. If the price breaks and holds below 0.3955, further downside towards 0.3800 could unfold.

Pro Tip for Traders: Monitor the depth levels for signs of increased selling pressure as it can provide clues for the next move. Traders may want to consider shorting near the resistance levels for better risk-to-reward setups.

Relevant Hashtags: #CryptoTrading #REDUSDT #BearishBreakout #ShortSetup