📉 $SLX Short Setup – Bearish Supply Zone in Play
$SLX has entered a major supply zone after a strong rally, and selling pressure is starting to appear around resistance. The recent move looks overextended, increasing the probability of a pullback from current levels.
I'm watching the 0.39000 – 0.49000 area for short opportunities, as this zone could attract sellers and trigger a corrective move lower.
🎯 Trade Plan
Entry: 0.39000 – 0.49000
TP1: 0.37800
TP2: 0.36600
TP3: 0.35400
TP4: 0.34200
TP5: 0.33000
Stop Loss: 0.49500
📊 Technical Outlook
Price is trading inside a key resistance/supply zone.
Momentum appears stretched after the recent upward move.
A rejection from this area could lead to a retracement toward lower support levels.
Risk management remains essential due to the coin's recent volatility.
⚠️ Disclaimer: This is my personal market analysis and not financial advice. Always do your own research and manage risk carefully before entering any trade.
#SLX #SLXUSDT #CryptoTrading #BinanceSquare #ShortTrade #TechnicalAnalysis #FuturesTrading #USTreasuriesRise #CircleToPartnerNomuraForInstantFXSettlement #USPCEInflationHits4.1% #USPCEInflationHits4.1%
$SLX has entered a major supply zone after a strong rally, and selling pressure is starting to appear around resistance. The recent move looks overextended, increasing the probability of a pullback from current levels.
I'm watching the 0.39000 – 0.49000 area for short opportunities, as this zone could attract sellers and trigger a corrective move lower.
🎯 Trade Plan
Entry: 0.39000 – 0.49000
TP1: 0.37800
TP2: 0.36600
TP3: 0.35400
TP4: 0.34200
TP5: 0.33000
Stop Loss: 0.49500
📊 Technical Outlook
Price is trading inside a key resistance/supply zone.
Momentum appears stretched after the recent upward move.
A rejection from this area could lead to a retracement toward lower support levels.
Risk management remains essential due to the coin's recent volatility.
⚠️ Disclaimer: This is my personal market analysis and not financial advice. Always do your own research and manage risk carefully before entering any trade.
#SLX #SLXUSDT #CryptoTrading #BinanceSquare #ShortTrade #TechnicalAnalysis #FuturesTrading #USTreasuriesRise #CircleToPartnerNomuraForInstantFXSettlement #USPCEInflationHits4.1% #USPCEInflationHits4.1%