Token Name: $TOWNS /USDT — Big Crash Ahead or Just a Pullback?
Current price is showing strong volatility with a −13.7% move in the last 24 hours. After a failed breakout attempt near 0.00576, price faced rejection and is now consolidating lower.
On the 1H timeframe, bearish candles and long upper wicks suggest selling pressure is building, not a clean reversal yet.
Market Read
Recent high rejection = weak bullish follow-through
Structure still range-bound
Volume spike without continuation = possible distribution
If support breaks, deeper pullback likely
Trade Setup (Short-biased unless structure flips)
• Entry Zone: 0.00568 – 0.00575
(rejection zone / liquidity area)
• Target 1 : 0.00552
(previous support)
• Target 2 : 0.00540
(range low / liquidity sweep)
• Target 3 : 0.00520
(if momentum accelerates)
• Stop Loss: 0.00588
(clean invalidation above rejection)
Alternative Bullish Scenario
If price reclaims and holds above 0.00580 with strong volume, the bearish setup is invalidated and we could see:
Short squeeze
Momentum continuation toward 0.00610+
