😫$XNY losing momentum—buyers are stepping back. Bears currently in control😱
XNY continues to show weakening structure after the recent push upward. Price has been making lower highs while repeatedly testing support without a convincing reaction from buyers. This reflects a clear shift in momentum as selling pressure begins to dominate the market.
Volume on the downside appears healthier than on each bounce, suggesting sellers are currently controlling the short-term narrative. Unless buyers step in with a strong reclaim of resistance, the probability favors continued downside movement.
🔻 Bias
Short-term bearish as long as price remains below recent highs.
🔑 Key Bearish Conditions
A bearish continuation becomes more likely if:
support levels keep getting tapped without bounce
price closes below short-term support
buyers fail to reclaim the previous lower high
