$PERP /USDT – BEARISH STRUCTURE SHOWS SIGNS OF WEAKNESS
PERP is trading at $0.2870 after multiple failed attempts to break above the $0.2910 resistance. The price is moving in a tight range, struggling to gain upward momentum. The lower highs and choppy structure indicate distribution, and the risk of downside pressure is increasing if buyers fail to reclaim strength soon.
SHORT TRADE SETUP (Bearish Bias):
Entry: $0.2860
Target 1: $0.2815
Target 2: $0.2760
Stop Loss: $0.2915
Why Short?
The recent price action shows repeated rejections below $0.2910. If support at $0.2860 fails, a sharp drop toward previous local lows is likely as volume fades and trend weakens.
LONG TRADE SETUP (Bullish Breakout Scenario):
Entry: $0.2925
Target 1: $0.2965
Target 2: $0.3010
Stop Loss: $0.2850
Why Long?
A breakout above $0.2916 with volume would flip the current structure and could trigger short covering. Bulls must reclaim this level to gain control of the short-term trend.
MARKET BIAS: Bearish
PERP is under pressure near resistance. Until price breaks above $0.2916 with conviction, bears remain in control. Volume weakness and repeated rejections hint at an incoming breakdown.
Prediction:
If $0.2860 breaks down, PERP could retrace to $0.2760
If $0.2916 is flipped with volume, the next test will be around $0.30
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