🚨
$ALLO SHORT Setup 🚨
📊 SHORT | Strength: 8/10 | Perp Futures
🎯 Targets:
TP1: $0.0879 (Bollinger MB)
TP2: $0.0846 (Bollinger DN)
TP3: $0.0760 (Psychological support)
📉 Why Short:
• RSI(14) at 73.00 — Deeply overbought territory (>70), historically precedes sharp reversals
• RSI(6) at 81.38 — Extreme overbought, flashing major exhaustion signal
• Price at Bollinger Upper Band ($0.0911) — Trading at resistance with wicks indicating rejection
• Volume divergence — Price up but volume MAs flat, momentum fading
• Performance context — +62.06% in 7 days (parabolic), due for correction
🔑 Levels:
Support: $0.0879 / $0.0846
Resistance: $0.0915 / $0.0950
⚡ Trade Setup:
Entry: $0.0910 - $0.0915
Stop-Loss: $0.0945 (3.5% risk)
R/R: 4.2:1 to TP3
Leverage: 3x-5x max
Position: 3-5%
⚠️ Risk: Parabolic moves can extend longer than expected if FOMO kicks in. Wait for confirmation candle below $0.0910.
#ALLO #Short #memecoin