$USELESS Faces Further Downside as Selling Pressure Intensifies — Is 0.118 the Next Target?
$USELESS is showing clear bearish momentum after dropping 3.8% in just 15 minutes, accompanied by a 1.5x volume spike. The latest price action suggests sellers remain firmly in control, and another leg down could be developing.
Market Structure & Momentum
The 1H structure remains bearish, with consistent lower highs and lower lows. Daily market structure and BTC's bearish bias also support the downside outlook.
What's particularly concerning for bulls is the derivatives data:
- Open Interest: $10.2M (+4.2% over 24H)
- Funding Rate: +0.0050%
- Taker Ratio: 1.03x
- 15M Price Change: -3.8%
- Volume: 1.5x above normal
Rising OI alongside positive funding during a price decline suggests leveraged long positions may be building against bearish momentum, increasing the risk of further long liquidations.
Key Resistance & Short Entry Zones
The 0.134–0.1375 region is the primary resistance zone. Additional supply sits around 0.1387 and 0.14105.
A weak bounce toward 0.133–0.134 could offer a potential short opportunity, provided lower-timeframe price action confirms rejection through bearish engulfing candles or weakening buying pressure.
Downside Targets
- TP1: 0.1308
- TP2: 0.12745 (Fair Value Gap)
- TP3: 0.12425 (Liquidity Zone)
- TP4: 0.11800
Invalidation Level: A sustained 1H close above 0.14078 would challenge the bearish structure and invalidate this short thesis.
My Take: The trend currently favors sellers. However, chasing the breakdown is risky. Waiting for a relief bounce, rejection, and proper confirmation offers a more disciplined approach.
Risk management comes first. Protect capital and avoid emotional entries.
Not financial advice. Educational market analysis only.
CHIL-WITH-CRYPTO
#USELESS #CryptoTrading #BearishTrend #BinanceSquare #AltcoinAnalysis $USELESS
$USELESS is showing clear bearish momentum after dropping 3.8% in just 15 minutes, accompanied by a 1.5x volume spike. The latest price action suggests sellers remain firmly in control, and another leg down could be developing.
Market Structure & Momentum
The 1H structure remains bearish, with consistent lower highs and lower lows. Daily market structure and BTC's bearish bias also support the downside outlook.
What's particularly concerning for bulls is the derivatives data:
- Open Interest: $10.2M (+4.2% over 24H)
- Funding Rate: +0.0050%
- Taker Ratio: 1.03x
- 15M Price Change: -3.8%
- Volume: 1.5x above normal
Rising OI alongside positive funding during a price decline suggests leveraged long positions may be building against bearish momentum, increasing the risk of further long liquidations.
Key Resistance & Short Entry Zones
The 0.134–0.1375 region is the primary resistance zone. Additional supply sits around 0.1387 and 0.14105.
A weak bounce toward 0.133–0.134 could offer a potential short opportunity, provided lower-timeframe price action confirms rejection through bearish engulfing candles or weakening buying pressure.
Downside Targets
- TP1: 0.1308
- TP2: 0.12745 (Fair Value Gap)
- TP3: 0.12425 (Liquidity Zone)
- TP4: 0.11800
Invalidation Level: A sustained 1H close above 0.14078 would challenge the bearish structure and invalidate this short thesis.
My Take: The trend currently favors sellers. However, chasing the breakdown is risky. Waiting for a relief bounce, rejection, and proper confirmation offers a more disciplined approach.
Risk management comes first. Protect capital and avoid emotional entries.
Not financial advice. Educational market analysis only.
CHIL-WITH-CRYPTO
#USELESS #CryptoTrading #BearishTrend #BinanceSquare #AltcoinAnalysis $USELESS