$MBL Faces Rejection at Key Resistance: Bearish Outlook Emerging

*April 22, 2025* – The price of MovieBloc ($MBL) appears to be losing steam after failing to sustain momentum above a critical resistance zone. Currently trading at $0.002491 (up 0.93% over the last 24 hours), MBL is showing signs of exhaustion as bearish signals begin to surface.

Technical Breakdown:

After briefly spiking above $0.00265, MBL faced strong selling pressure, leading to a series of red candles that now dominate the chart. This price action suggests a classic bull trap may be forming, especially with volume declining and lower highs beginning to take shape.

Key Levels to Watch:

- Resistance Zone: $0.00260 – $0.00265

- Support Zone: $0.00242 – $0.00236

- 24-Hour Range: $0.002392 – $0.002749

Short Trade Setup Taking Shape:

Traders are now eyeing a potential short opportunity, especially if price action confirms further weakness. A breakdown below $0.00245 would likely cement short-term bearish control.

- Suggested Entry Range: $0.00248 – $0.00252

- Take-Profit Targets:

- TP1: $0.00242

- TP2: $0.00236

- TP3: $0.00229

- Stop Loss: Above $0.00260

Market Sentiment:

The market currently favors the bears, with indicators pointing toward a potential downward move. Traders are advised to wait for confirmation — specifically a red candle close below $0.00248 — before entering any positions. Diminishing volume alongside price rejection often precedes a deeper correction.

Strategy Insight:

Risk management remains crucial. Given the tight consolidation zone and the volatile nature of small-cap altcoins like MBL, tight stop-loss placement and active trade monitoring are essential. Look for further volume decline to validate the setup.

Buy and Trade $MBL here.

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