📉 $S /USDC Analysis: Bearish Momentum Ahead! 📉
The market structure for $S (Sonic) is looking heavy after a significant breakdown on the 1-hour chart. The price is trading below key moving averages, confirming a Bearish trend. While the RSI is deeply oversold at 20 (indicating a potential short-term bounce), the safest play is to look for a Short position on a pullback.
Here is your clear and actionable trade plan:
🔽 Position: SHORT
🔴 Trend: Bearish
🎯 Entry Zone: 0.04480 - 0.04550 (Look for entries on a relief bounce toward the MA resistance)
🚀 Take Profit (TP) Targets:
• TP1: 0.04360 (Recent swing low support)
• TP2: 0.04250
• TP3: 0.04100
🛡️ Stop Loss (SL): 0.04650 (Above the recent breakdown structure & MA25)
⚠️ Risk Management: Protect your capital! Always use proper leverage and only risk 1-2% of your wallet.
Let's see how this plays out! Stay disciplined. 🦾
#S #USDC #CryptoTrading #TechnicalAnalysis #TradingPlan
