๐จ$FRAX looking weakโฆ next stop $0.70?๐ฑ
FRAX is currently trading around 0.82, but price action is showing clear weakness after a short relief bounce.
๐ What the chart is telling us:
Strong downtrend structure still intact
Price is struggling to reclaim 0.83 resistance
Multiple rejections at the same level = sellers defending hard
Liquidity resting below current price
๐ Key Levels
Resistance: 0.83 โ 0.85
Support: 0.78 โ 0.70 (major target)
โ ๏ธ Scenario
If FRAX fails to hold above 0.80, we could see a sharp move down toward 0.70, which aligns with previous demand and liquidity zones.
๐ง Trading Insight
No confirmation of trend reversal yet
Patience is key โ wait for either:
A clean break & hold above 0.85, or
A sweep into 0.70 support for potential reaction
๐ฌ Not financial advice. Always manage risk.
