$ACE sellers are maintaining control, and the rebound has not yet been confirmed.
On the 15-minute chart, the situation remains bearish.
The daily and local structures are pointing downward, and the price around $0.18406 is trading well below the latest local high of $0.19105.
RSI is in oversold territory, but that is not yet a signal for a reversal.
Until buyers confirm a change in structure, any bounce may become an opportunity for sellers.
Key levels:
— $0.18668–$0.18654 — supply zone for a potential retest.
— $0.18203 — first downside target.
— $0.18028 — next target if momentum continues.
— $0.19105 — invalidation level for the bearish scenario if a 15-minute candle closes above it.
For a short scenario, it is important to wait for a retest of the supply zone and confirmation from sellers — for example, a bearish engulfing pattern or a strong rejection of price.
Despite the fact that some large traders remain long, the structure and the flow of market orders still favor sellers.
The main thing is not to confuse oversold conditions with a reversal. As long as the structure has not changed, bears retain the advantage.
On the 15-minute chart, the situation remains bearish.
The daily and local structures are pointing downward, and the price around $0.18406 is trading well below the latest local high of $0.19105.
RSI is in oversold territory, but that is not yet a signal for a reversal.
Until buyers confirm a change in structure, any bounce may become an opportunity for sellers.
Key levels:
— $0.18668–$0.18654 — supply zone for a potential retest.
— $0.18203 — first downside target.
— $0.18028 — next target if momentum continues.
— $0.19105 — invalidation level for the bearish scenario if a 15-minute candle closes above it.
For a short scenario, it is important to wait for a retest of the supply zone and confirmation from sellers — for example, a bearish engulfing pattern or a strong rejection of price.
Despite the fact that some large traders remain long, the structure and the flow of market orders still favor sellers.
The main thing is not to confuse oversold conditions with a reversal. As long as the structure has not changed, bears retain the advantage.