$ADX Bearish Momentum Continues
$ADX is currently facing significant selling pressure and is showing signs of a potential short-term decline. After failing to sustain a rally above a key resistance level, the token is now testing its daily low, and a breakdown could lead to a further price drop.
Short Trade Setup
This trade plan is designed to capitalize on the current bearish trend.
Short Entry Zone: $0.123 – $0.127
Take Profit (TP) Targets:
TP1: $0.118
TP2: $0.115
Stop-Loss (SL): $0.126
This stop-loss is placed just above the resistance level, protecting the trade in case of a bullish reversal.
Analysis & Outlook
Current Price: $0.1215
Price Action: The price is struggling to maintain its position after failing to hold gains above $0.1252. It is now trading near its daily low of $0.1204, suggesting bears are in control.
Key Levels:
Resistance: The $0.125 level is a major resistance point. Unless buyers can push the price back above this level, the bearish outlook is likely to remain.
Support: The $0.1204 daily low is a critical support level. A decisive break below this point could accelerate the downward momentum.
Disclaimer: This is not financial advice. All trading carries risk, and past performance is not indicative of future results. Do your own research and manage your risk accordingly before making any trading decisions.