$XNY /USDT BEARISH SETUP: TECHNICAL ANALYSIS

$XNY/USDT is showing signs of bearish pressure after failing to sustain higher levels. Recent selling activity and lower highs indicate a potential downtrend continuation. Key support zones are being tested, signaling cautious short opportunities.

Entry: Short below 0.2054

Targets (TP): 0.1970, 0.1900, 0.1814

Stop Loss (SL): 0.2202

Technical Points:

Trend Analysis: Price forming lower highs and lower lows, indicating bearish momentum.

Support/Resistance: Immediate support at 0.2054; resistance around 0.2202.

Volume: Increasing selling volume confirms downward pressure.

Moving Averages: Price trading below short-term MA, confirming downtrend.

RSI: Near oversold territory, watch for minor retracements before entry.

Risk Management: Limit risk to 2% per trade, adjust SL if price consolidates above resistance level.