$BABY Support under pressure
The price has finally reached the demand zone it had been ignoring after a series of consecutive declines.
While there is almost no response from buyers, instead—support has already started to be pushed down, and each attempt to move back higher is quickly met by sellers. This indicates that the initiative is still on the bears’ side.
The nearest resistance lies around the EMA50 and the local bearish block 0.0130 - 0.01375. As long as the price stays below this area, it’s premature to talk about a trend reversal.
For now, I’m watching this demand zone specifically: if buyers can hold the level and push the price back above the nearest resistance, then a chance for recovery will appear. If support ultimately fails to hold, the market may open the way to the next decline range.
Since the structure remains weak, I wouldn’t rush into buying. It’s better to wait for confirmation of buyers’ strength than to try to catch the reversal early.
@BabylonLabs_io #baby
The price has finally reached the demand zone it had been ignoring after a series of consecutive declines.
While there is almost no response from buyers, instead—support has already started to be pushed down, and each attempt to move back higher is quickly met by sellers. This indicates that the initiative is still on the bears’ side.
The nearest resistance lies around the EMA50 and the local bearish block 0.0130 - 0.01375. As long as the price stays below this area, it’s premature to talk about a trend reversal.
For now, I’m watching this demand zone specifically: if buyers can hold the level and push the price back above the nearest resistance, then a chance for recovery will appear. If support ultimately fails to hold, the market may open the way to the next decline range.
Since the structure remains weak, I wouldn’t rush into buying. It’s better to wait for confirmation of buyers’ strength than to try to catch the reversal early.
@BabylonLabs_io #baby