$PROVE
– BEARS STILL IN CONTROL
PROVE continues its downward move after failing to sustain above $1.2585, dropping to a low of $1.1762 before a minor bounce. Currently trading around $1.1885, the price is struggling to break above $1.2080, which now acts as immediate resistance. If sellers maintain pressure, a retest of $1.1760 – $1.1650 remains likely. Bulls will need to reclaim $1.2100 to shift short-term momentum back in their favor.
Trade Setup (Short Bias):
Entry: $1.1880 – $1.1950
Target 1: $1.1760
Target 2: $1.1650
Stop Loss: Above $1.2100
The trend structure favors sellers as long as the price remains capped below $1.2100, making PROVE vulnerable to further downside.