$EDGE is a bearish rejection setup after the buyback narrative failed to force continuation.
The market already had the bullish story: ongoing buybacks and token burns. But price rejected near $1.33, slipped back under key 4H moving averages, and now trades around the same zone buyers needed to defend. With CMC pointing to lack of fresh catalysts and altcoin risk-off rotation, this bounce looks like distribution, not demand.
Bias: Short
Entry: $1.312–$1.325
SL: $1.342
TP1: $1.285
TP2: $1.255
TP3: $1.235
Late longs bought the buyback headline. Sellers are using their confidence as liquidity.