📉 -15% in a single day — PROM is bleeding. Most people are running away. Here's why I'm looking at it.
PROM dropped hard. Price at $5.46, below SMA7 ($5.49) and SMA25 ($5.88) on the 4H. Daily RSI at 67.4 is still elevated despite the dump — this was overextended before. Volume at 0.85x is normal, not panic selling.
📊 Why This Trade?
Direction is DOWN. The 4H structure is bearish with fading MACD. Price broke below short-term support. This ran too far too fast and is now mean-reverting.
🎯 Trade Plan (SHORT):
• Entry: $5.114 - $5.814
• Stop Loss: $6.865 (above recent highs, ~1.5x ATR)
• TP1: $4.960 | TP2: $4.807 | TP3: $4.602
• Risk/Reward: 0.4R
Wide entry range reflects volatility. Scale in if possible. This is a correction trade on something that pumped 65%+ before pulling back.
💭 PROM down 15% after a massive run — dead cat bounce coming or more downside?
#PROM #Crypto #DYOR
⚠️ Not financial advice. Do your own research. Shorting is inherently risky.
PROM dropped hard. Price at $5.46, below SMA7 ($5.49) and SMA25 ($5.88) on the 4H. Daily RSI at 67.4 is still elevated despite the dump — this was overextended before. Volume at 0.85x is normal, not panic selling.
📊 Why This Trade?
Direction is DOWN. The 4H structure is bearish with fading MACD. Price broke below short-term support. This ran too far too fast and is now mean-reverting.
🎯 Trade Plan (SHORT):
• Entry: $5.114 - $5.814
• Stop Loss: $6.865 (above recent highs, ~1.5x ATR)
• TP1: $4.960 | TP2: $4.807 | TP3: $4.602
• Risk/Reward: 0.4R
Wide entry range reflects volatility. Scale in if possible. This is a correction trade on something that pumped 65%+ before pulling back.
💭 PROM down 15% after a massive run — dead cat bounce coming or more downside?
#PROM #Crypto #DYOR
⚠️ Not financial advice. Do your own research. Shorting is inherently risky.