Market Summary

The market is in a bearish trend with strong selling pressure, but oversold conditions on the 1h timeframe suggest caution. Key level to watch is resistance at 0.00000359.

Market State

Price is consolidating near 0.00000353 after a recent drop, with momentum fading on the 15m chart. The 1h trend remains bearish as indicated by ADX above 36 and Minus_DI significantly higher than Plus_DI.

Key Levels

• Resistance: 0.00000359, 0.00000357
• Support: 0.00000345, 0.00000342

Scenarios

Bullish Scenario If price holds above support at 0.00000345 and shows a reversal with increasing volume, a bounce to 0.00000359 is possible. However, this is contradicted by the bearish ADX and negative CMF on the 1h. Confirmation would require a break above 0.00000359 with strong buying volume.

Bearish Scenario Price fails to break above 0.00000359 and resumes the downtrend, targeting support levels at 0.00000345 and 0.00000342. This is supported by the high ADX, Minus_DI > Plus_DI, and oversold but declining RSI. A rejection at resistance with negative CMF would confirm this scenario.

Current Lean The data leans bearish due to the strong downtrend on the 1h, but the oversold RSI suggests potential for a short-term bounce. Watch for price action at 0.00000359 to determine direction.

Trade Setup

• Direction: SHORT
• Entry: $0.00000358 (optimal) / $0.00000356 (alternative)
• Stop Loss: $0.00000362 — protects above the recent resistance at 0.00000359
• Targets: T1: $0.00000350 | T2: $0.00000345 | T3: $0.00000342
• R/R: 1:2
• Confidence: Medium

Risks

• Invalidation: A break above 0.00000362 would invalidate the bearish thesis and suggest a potential reversal.