đš$ESPORTS /USDT: The Rally Is Losing Strength, Is a Major Correction Next?
After an explosive rally from the $0.0070 region toward $0.0224, ESPORTS has started showing significant selling pressure. The 4H chart reveals a sharp rejection near the recent high, followed by consecutive bearish candles and a decline of approximately 24.60% in the last 24 hours. This indicates that buyers are losing control after the massive upward move.
Currently trading around $0.01513, the price is attempting a small recovery, but this bounce is not enough to change the overall short-term structure. The $0.0153-$0.0160 region is an important resistance zone. If the price fails to reclaim this area, another bearish move could develop. A stronger rejection below $0.0169 would further support the downside setup. On the downside, $0.0141 is the first important support to watch. Losing this level could open the door toward $0.0120, followed by $0.0100 and potentially $0.0080. The larger downside target sits near $0.0070, which is also close to the previous consolidation area before the massive rally.
Short Trading Plan: đ
Entry: $0.0151-$0.0153
Stop Loss: $0.016937
TP1: $0.0120
TP2: $0.0100
TP3: $0.0080
Final Target: $0.007012
The risk/reward structure offers approximately 5.1R toward the marked final target. My bias remains bearish while the price stays below the $0.0169 resistance. Do you think ESPORTS will revisit $0.007 before attempting another major rally?
Guys, we need to focus on $AIN & $LSK also, so i will be dropping the analysis post about these two very soon.
#esportsusdt #AINUSDT #LSKUSDT
After an explosive rally from the $0.0070 region toward $0.0224, ESPORTS has started showing significant selling pressure. The 4H chart reveals a sharp rejection near the recent high, followed by consecutive bearish candles and a decline of approximately 24.60% in the last 24 hours. This indicates that buyers are losing control after the massive upward move.
Currently trading around $0.01513, the price is attempting a small recovery, but this bounce is not enough to change the overall short-term structure. The $0.0153-$0.0160 region is an important resistance zone. If the price fails to reclaim this area, another bearish move could develop. A stronger rejection below $0.0169 would further support the downside setup. On the downside, $0.0141 is the first important support to watch. Losing this level could open the door toward $0.0120, followed by $0.0100 and potentially $0.0080. The larger downside target sits near $0.0070, which is also close to the previous consolidation area before the massive rally.
Short Trading Plan: đ
Entry: $0.0151-$0.0153
Stop Loss: $0.016937
TP1: $0.0120
TP2: $0.0100
TP3: $0.0080
Final Target: $0.007012
The risk/reward structure offers approximately 5.1R toward the marked final target. My bias remains bearish while the price stays below the $0.0169 resistance. Do you think ESPORTS will revisit $0.007 before attempting another major rally?
Guys, we need to focus on $AIN & $LSK also, so i will be dropping the analysis post about these two very soon.
#esportsusdt #AINUSDT #LSKUSDT
