MITO had a sharp expansion move, but the follow-through is starting to fade. After tagging the recent high, price met clear rejection and momentum has slowed, suggesting buyers are no longer willing to chase at these levels.
Right now, price is trading below the rejection zone, which often signals a cooling phase rather than immediate continuation. When impulsive moves lose strength this quickly, the market usually looks for balance by revisiting prior support areas where demand was previously established.
From a structure perspective, the recent spike looks more like a liquidity grab than a sustainable breakout. As long as MITO remains capped below the rejection area, the path of least resistance points toward a controlled pullback. This kind of retrace is healthy and does not change the broader picture, but it does create a short-term opportunity for mean reversion.
Risk management remains key here. A reclaim and hold above the rejection zone would invalidate the pullback thesis and signal renewed strength, while continued acceptance below it favors a move toward the next support.
Trade idea
Short entry zone: 0.0775 to 0.0785
Target: 0.0732
Stop-loss: 0.0805
Patience matters in these conditions. Let price come to your levels and allow the market to confirm direction rather than reacting emotionally to the spike.
