The pair $WET /USDT is currently showing a downtrend, trading around $0.1120 after a decline of 1.97% over the past 24 hours. While your chart indicates a local level at $0.12, broader market data shows that the token is under pressure from a descending channel, with a key resistance preventing sustainable recovery.
📊 Technical Analysis for Speculation (15-minute timeframe)
Current price: $0.1120 (stabilizing near the psychological level of $0.12 that you are monitoring).
Immediate support: $0.1100 (psychological floor) and $0.1085.
Immediate resistance: $0.1245 (today's immediate obstacle) and $0.1310.
Indicators:
Market trend: Overall sentiment towards $WET is cautious, as the currency has significantly declined over the past month.
RSI: Currently in a neutral zone on the 15-minute timeframe, indicating short-term accumulation before the next volatile move.
⚡ Trading Plan (Short Scalp)
Entry zone: $0.1180 – $0.1210 (selling near the resistance you are monitoring)
Profit targets (TP):
Target 1: $0.1130 (quick exit for speculators)
Target 2: $0.1090 (testing the lower support)
Stop Loss (SL): $0.1265
Risk ratio: 1:2.3 ⚖️
Question for discussion: Are you speculating on a rejection of the $0.12 level, or waiting for $WET to break above $0.125 to open long positions? Share your plan! 👇
