🚨 $ESP Compression beneath resistance holds.

🔴 SHORT $ESP

ESP
ESPUSDT
0.12871
-9.02%

Entry: $0.1660 - $0.1680

SL: $0.1745

TP1: $0.1560 | TP2: $0.1440 | TP3: $0.1300

Analysis:

- Price is trading above the 20, 50, and 200 EMAs, signaling a strong bullish trend, but momentum is stalling.

- Structure shows a failed breakout attempt, with price compressing just below the recent high of $0.17308, suggesting absorption of buying pressure.

- This rejection aligns with the $0.1730 higher timeframe resistance level, where sellers are defending the yearly high.

- The massive 59% pump lacks follow-through, indicating exhaustion; mean reversion to the 20 EMA ($0.1635) is likely before a deeper pullback.

Invalidation: A daily close above $0.1740.

Engagement Question: Breakout — or trap?