$PROM just got hammered, dropping 17% to 5.050 after a sharp rejection from 6.700. The 4H chart is flashing extreme oversold signals with RSI at 10 🐂
This is a violent liquidity flush. $PROM has lost every major EMA and the Supertrend at 6.149, leaving the structure heavily damaged. The RSI at 10 tells me sellers are temporarily exhausted. While a bounce is likely, I am not catching this falling knife. I want to see a 4H reclaim of the AVL at 5.119 as a first sign of buyer interest. If that holds, the next hurdle is the EMA7 at 5.515. If we lose the 4.764 low, expect a flush to 4.298. I am waiting for stabilization
Are you catching this falling knife, or waiting for a confirmed reclaim of 5.119? Follow for more market analysis
This is a violent liquidity flush. $PROM has lost every major EMA and the Supertrend at 6.149, leaving the structure heavily damaged. The RSI at 10 tells me sellers are temporarily exhausted. While a bounce is likely, I am not catching this falling knife. I want to see a 4H reclaim of the AVL at 5.119 as a first sign of buyer interest. If that holds, the next hurdle is the EMA7 at 5.515. If we lose the 4.764 low, expect a flush to 4.298. I am waiting for stabilization
Are you catching this falling knife, or waiting for a confirmed reclaim of 5.119? Follow for more market analysis
