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$MEGA is pushing into resistance — but the breakout is starting to lose momentum.
$MEGA / USDT - SHORT 📉
Trade Plan:
🔹 Entry: 0.0668 – 0.0678
🔹 SL: 0.0702
🎯 TP1: 0.0640
🎯 TP2: 0.0615
🎯 TP3: 0.0580
Why this setup?
MEGA has been trending higher, but price is now testing a major resistance zone around 0.0697 where buyers have repeatedly struggled to maintain control.
Despite making higher highs, momentum appears to be slowing, with several rejection wicks forming near the recent peak. This often signals that sellers are beginning to absorb buying pressure.
The current rally has also become extended from its short-term support levels, increasing the probability of a corrective move before any further upside continuation.
Volume has remained relatively stable rather than expanding aggressively into the breakout attempt, suggesting a lack of strong conviction from bulls at current levels.
If bears successfully defend the 0.0697 resistance area, a retracement toward lower support zones could unfold quickly.
Debate:
Are bulls preparing for a breakout above 0.0700, or is this the perfect liquidity grab before a deeper pullback?
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