$EDGE – Bearish Breakdown Looming, Resistance Holding Strong
Trading Plan: Short $EDGE
Entry: 1.3560 – 1.3700
SL: 1.4800
TP 1: 1.2200
TP 2: 1.1000
TP 3: 0.9500
$EDGE is currently struggling to maintain its momentum after hitting resistance near the 1.47 mark. The price action shows a clear rejection, and the MACD is showing a bearish crossover, signaling a shift in momentum. Additionally, the RSI is starting to head south from neutral territory, suggesting that sellers are regaining control.
The order book depth also shows significant sell walls above current prices, and the funding history indicates that the peak hype is cooling down. As long as the price stays below the immediate resistance level, the path of least resistance is downward. We expect a sharp move toward the major support zone at 0.95.
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