$BANANAS31 – Heavy Resistance at Peak, Preparing for a Slide
Trading Plan: Short $BANANAS31
Entry: 0.009630 – 0.009637
SL: 0.009890 (Above recent high)
TP 1: 0.009500
TP 2: 0.009420
TP 3: 0.009330
Analysis:
The 4H chart shows $BANANAS31 struggling to break through the overhead resistance. We are seeing a clear rejection at the upper levels, and the SuperTrend is currently signaling a bearish environment (red zone). While there is minor stabilization, the RSI is flat, and the MACD lacks bullish momentum to push higher.
The order book shows significant ask pressure near the top. Unless the price breaks and holds above 0.0099, the path of least resistance is downward. We expect a retest of the recent support levels as buyers are exhausted at these prices.
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