The Setup (SHORT $BANK):

• Entry Zone: $0.0432 – $0.0445

• Invalidation / Stop Loss: $0.0460

• Target 🎯 1: $0.0408

• Target 🎯 2: $0.0385

• Target 🎯 3: $0.0350

The Market Narrative:

Lorenzo Protocol ($BANK) is currently suffering from intense distribution, with sellers aggressively stepping in to crush every attempt at a relief rally as heavy supply dominates the order book.

The Technical Breakdown:

Based on the 15-minute timeframe shown in image_d03123.png, $BANK is trapped within a brutal and persistent downtrend, continuously cascading from the $0.0620 peak and carving out a textbook series of lower highs and lower lows. After printing a local bottom at $0.0408, buyers attempted to engineer a bounce, but upward momentum immediately dried up as price approached the $0.0440 resistance zone, resulting in sharp rejection candles.

This fading volume on upward pushes confirms that demand is simply too weak to absorb the overhead supply. With price action heavily pinned below structural resistance and volume heavily favoring the bears during downward impulses, the path of least resistance remains strictly to the downside. As long as price stays below the critical $0.0460 invalidation level, expect a swift retest and potential breakdown of the $0.0408 range low to tap into fresh downside liquidity.

Will $BANK flush straight through $0.0408 to make new lows, or are we going to see a period of sideways chop first? Let me know your thoughts in the comments! 👇

#cryptotrading $BANK #TechnicalAnalysis #daytrading

Disclaimer: This is for educational purposes only and is not investment advice. Always do your own research and manage your risk.