bearish correction after a recent upward move. Price reached a local high near 9.38, but failed to hold that level, leading to a pullback.
The Parabolic SAR has flipped above the candles, which is a clear indication that trend momentum has shifted to bearish in the short term. Additionally, the MACD shows weakening momentum, with the histogram turning negative and the signal line crossing downward — confirming selling pressure.
The current price around 8.98 is approaching a minor support zone. If this level fails, the next support could be seen near 8.75 – 8.70. On the upside, immediate resistance is now around 9.10 – 9.20.
Volume is slightly decreasing, suggesting that sellers are active but not extremely aggressive yet.
Trading Outlook:
Short-term bias: Bearish
Support: 8.75 / 8.70
Resistance: 9.10 / 9.20
Possible scenario:
Breakdown below 8.95 → further downside
Reclaim above 9.15 → potential bullish recovery
Conclusion:
The market is in a pullback phase, and traders should wait for confirmation before entering. A breakout or breakdown from current levels will decide the next move.
If you want, I can also make a �proper trade setup (entry, SL, TP) for you 👍
#CryptoMarketRebounds #SECEasesBrokerRulesforCertainDeFiInterfaces #USDCFreezeDebate #USMilitaryToBlockadeStraitOfHormuz #JustinSunVsWLFI