$ID showing a clear short-term bearish structure after failing to reclaim the 0.0435 - 0.0440 resistance zone 📉
The current 5M chart suggests sellers are defending the supply area aggressively while buyers struggle to establish a higher high.
Current Price: 0.0427
Structure overview 👇
• Strong rally lost momentum near 0.050
• Price entered a correction phase with lower highs forming
• Recent bounce failed to break the resistance zone
• Rejection from supply indicates potential continuation lower
Important Resistance: 0.0435 — 0.0440
This is the key supply zone bears are currently protecting.
If price stays below: 0.0440
then the next possible downside targets become:
➜ 0.0410
➜ 0.0400
➜ 0.0385
Support zones 👇
Immediate Support: 0.0420 — 0.0410
Major Support: 0.0400 — 0.0385
Bearish signs 🔴
• Lower-high structure visible after the correction
• Multiple rejections from resistance zone
• Buyers unable to sustain momentum above supply
• Market structure still favors sellers below resistance
But there’s also caution here ⚠️
Price is already near support, which means reaction bounces can happen at any time.
That means:
• continuation breakdown or
• short-term relief bounce
both remain possible from current levels.
If: 0.0440 gets reclaimed and held,
then bears may lose control and price could revisit:
➜ 0.0455
➜ 0.0470
Trade Bias: Short-term bearish while price remains below 0.0440, with stronger downside confirmation only after a clean break below 0.0420. The current structure favors a move toward the 0.0400 area unless resistance is reclaimed. 📉
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