$RED /USDT SHORT TRADE SETUP
$RED is currently trading at $0.3170 on the 15-minute chart, showing strong signs of a short-term pullback following an explosive pump to the 24-hour high of $0.3422. After the initial rejection at the high, the price has formed a series of lower highs and lower lows, indicating a loss of immediate bullish momentum and increasing selling pressure.
The move below the key support near $0.3200 confirms the short-term bearish outlook, suggesting a continuation of the retracement towards lower support levels.
Target Points (TP)
TP1: 0.3060 (Minor Support/Consolidation Low)
TP2: $0.2984 (Previous Swing Low on the 15m Chart)
TP3: $0.2860 (Extension Target towards the lower part of the initial pump)
Stop Loss (SL)
Set stop loss above $0.3300 to limit upside risk (Above the last significant swing high).
Sell and Trade here on $RED
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