$SPELL recent price action indicates a bearish rejection at the 0.0004885 zone, a critical intraday resistance. This rejection, combined with signs of exhaustion and weakening momentum, suggests a potential short-term reversal.
*Key Levels:*
- *Resistance*: 0.0004885
- *Support*: 0.0004759
*Trade Setup:*
- *Entry*: 0.0004837
- *Take-Profit*: 0.0004759
- *Stop-Loss*: 0.0004885
- *Timeframe*: 15m (scalp-level trade)
A close below 0.0004830 with volume could signal sellers taking control, with further confirmation of the trend expected if the price continues below 0.0004800. This setup is similar to other bearish rejection patterns seen in markets, where price rejection at key levels can indicate trend reversals ¹.
0.0004839
+2.43%
