I wore $VANRY with force after touching the downtrend line, but the upward move again hit the 200 moving average— the same area where price rejection occurred in previous attempts.
The repetition of rejection at this level increases the likelihood of a bearish trend, unless buyers manage to break above the 200 moving average and close clearly over it.
Chasing the price below this resistance doesn’t offer a suitable risk-to-reward ratio.
🎯 Downside Targets:
• 0.004383
• 0.004143
• 0.003932
❌ Invalidate the Scenario: a strong close on the four-hour timeframe above the 200 moving average with a clear breakout of the rejection zone.
Resistance still maintains control, and any rise without confirming the breakout remains exposed to renewed selling pressure.
The repetition of rejection at this level increases the likelihood of a bearish trend, unless buyers manage to break above the 200 moving average and close clearly over it.
Chasing the price below this resistance doesn’t offer a suitable risk-to-reward ratio.
🎯 Downside Targets:
• 0.004383
• 0.004143
• 0.003932
❌ Invalidate the Scenario: a strong close on the four-hour timeframe above the 200 moving average with a clear breakout of the rejection zone.
Resistance still maintains control, and any rise without confirming the breakout remains exposed to renewed selling pressure.