Current Price: ~$0.78
Trade Setup: Short (High Risk)
After an explosive rally of nearly 90%, $RE
is showing signs of exhaustion near the $0.84–$0.85 resistance zone. The chart indicates weakening momentum, with price consolidating below the recent high and volume beginning to cool.
Bearish Scenario
Entry Zone: $0.80 – $0.90
Stop Loss: $1.00
Targets: $0.75 → $0.70 → $0.50
Technical View
RSI is easing from overbought territory, suggesting momentum is slowing.
Price remains above key moving averages, meaning the overall trend is still bullish.
A rejection from the current resistance area could trigger a pullback toward the listed targets.
Conclusion:
This is a counter-trend short trade, making it relatively risky. Traders should wait for clear bearish confirmation before entering and maintain strict risk management due to the strong underlying uptrend.
