Short Selling Trade Signal for Pair $INJ /USDT - Bearish Rejection from Local Resistance Area!
The price of INJ faced a sharp rejection from the resistance level of $12.38 after forming a lower high. The price is now retreating from its daily highs, indicating bearish pressure on the lower time frames (15 minutes). This setup suggests the possibility of a continued decline towards key support levels.
Trading Setup:
Entry Price: $12.28
Target 1: $12.09
Stop Loss: $12.38
Market Outlook:
Sellers are showing strength at the medium-term resistance level, with multiple failed attempts to break the $12.40 level. The bearish engulfing candle on the 15-minute chart supports a bias towards selling with momentum reversal. If trading volume drops below $12.20, expect further declines.
Risk Management Advice:
Use tight stop-loss orders and consider taking profits as the price approaches the support area of $12.10.
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