🚨📉 $USELESS HIGH-LEVEL CONSOLIDATION FAILURE: Shorting the Break Below EMA(7) [SHORT] ⬇️
The USELESS chart is signaling short-term exhaustion after the massive surge! The price hit a 24h high of 0.1260 and is now consolidating tightly. The current price of 0.1241 is trading just above the immediate support of the EMA(7) at 0.1218. A decisive break and close below this EMA(7) would be the first clear sign that the short-term momentum has failed, confirming the SHORT move is active, aiming for a deeper correction towards the EMA(25).
What the Chart is Telling Us:
Consolidation Weakness: The price is unable to resume the upward trend after the high, indicating sellers are defending the top.
EMA Support Test: The current price is hovering right near the EMA(7). A loss of this support confirms the bearish momentum.
MACD Turn: The MACD is slightly negative (-0.0001), with the lines tightly converged (DIF: 0.0047 vs DEA: 0.0047). A sustained drop below the EMA(7) will confirm the bearish crossover and expansion.
Immediate Target: The momentum is likely to drive the price back to the EMA(25) support.
My No-Bullshit Trading Thesis (SHORT Bias):
Entry Zone: Enter on the confirmed breakdown and close below the EMA(7) support, around $0.1210 - 0.1218.
Critical Stop: Place your stop loss just above the recent consolidation high, around 0.1265. A clean break and close above this level invalidates the short.
Targets: The first target is the aggressive test of the EMA(25) at 0.1159. A break below that opens the path to the long-term EMA(99) at 0.1111 and the recent base near 0.0938.
⚠️ USELESS is failing at the top and losing immediate support. Short the breakdown below 0.1218 and ride the correction to 0.1159!
How low will USELESS fall? Will it test 0.11 on this dump? Drop your price! 👇
