PROM is up +73% on the daily RSI but just dumped -14.69% today. This is what distribution looks like.
📊 Current Picture:
At $5.974 with $17.7M volume — and volume is INCREASING (1.37x average) on the dump. That is bearish confirmation. The 4H RSI at 52.1 is neutral, which is actually scary after a -15% drop — it means the selling could continue before oversold conditions trigger a bounce. Price is below 4H SMA7 ($6.476) but still above SMA25 ($5.812).
🧠 Why This Trade?
Rising volume on a big red candle = distribution. Smart money is selling into strength. Despite the daily uptrend (SMA7 > SMA25 > SMA99), the 4H structure is breaking down. Shorting into the broken 4H trend with a tight stop above the recent high.
📋 Trade Plan (SHORT):
• Entry: $5.555 – $6.393
• Stop Loss: $7.649 (above recent swing high)
• TP1: $5.388 | TP2: $5.222 | TP3: $4.999
• Confidence: 79%
The wide entry range reflects the volatility. Scale into the position rather than entering all at once. If PROM reclaims $6.50 with volume, exit — the distribution thesis is wrong.
📉 Buying this dip or shorting the bounce? Let me know 👇
#PROM #AltcoinTrading #DYOR
⚠️ Disclaimer: This is personal analysis, not financial advice. Always do your own research and manage risk responsibly.