$POWER is currently experiencing a pronounced intraday bearish trend, characterized by a series of lower highs and lower lows. The aggressive downside move has driven price down to the 0.242–0.245 demand zone, where some limited buying interest has emerged, yet the broader market structure continues to favor sellers with evident weakness.
Rebounds from this level are anticipated to be temporary and corrective in nature, rather than signaling a sustained trend reversal. Former support areas have flipped into overhead resistance, where sellers are likely to step in strongly on any upward retracements. Downward momentum should persist as long as price remains capped below the critical 0.255–0.260 overhead supply zone.
This environment lends itself to short-oriented scalps on rallies into resistance, avoiding entries that chase further declines. Should price fail to break and sustain above those key resistance levels, further downside extension toward deeper supports becomes the probable outcome. Exercise rigorous risk controls and limit position sizes amid this heightened volatility.
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