🚨$RDNT Hitting Resistance - Quick Short Setup 📉
Trading plan: Short $RDNT
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• Entry zone: $0.0133 - $0.0139
• 🎯 TP1: $0.0126
• 🎯 TP2: $0.0122
• 🎯 TP3: $0.0118
• SL: $0.0143
Technical Analysis ⚡️
After a massive increase of 33% to $0.0144, $RDNT is stagnating and generating long upper wicks, signaling increasing profit-taking pressure. The RSI (12) on short-term timeframes has risen into extreme overbought territory, warning that a technical correction to "cool off" is imminent. The price is currently extended well above the EMA support bands, supporting a mean reversion scenario towards lower equilibrium levels.
Stop Loss Advice ($0.0143):
This is the recent peak of resistance; a breakout above here confirms the continuation of the trend, making the short position high risk.
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