$M is still trading under heavy selling pressure after failing to hold above the $1.00 area. 📉
Price is currently around $0.8208, down 8.48% over the last 24 hours. The sharp rejection from $1.0627 and the long upper wick show that sellers quickly absorbed the breakout attempt. Although volume was very strong during the move, buying momentum faded as the session progressed, leaving the broader trend bearish.
Unless price reclaims the $1.00 region, rallies are likely to face selling pressure.
📊 Key levels to watch:
• Resistance: $1.0000 – $1.0627
• Support: $0.6555
• Major support: $0.5000
Possible plan 👇
🔴 Short Zone: $0.8400 – $0.8800
🎯 Target 1: $0.7600
🎯 Target 2: $0.7000
🎯 Target 3: $0.6555
❌ Invalidation / Stop Loss: Above $1.0000
The overall structure still favors the bears. Any relief rally toward resistance could provide another opportunity for sellers unless $1.00 is reclaimed with strong volume.
No financial advice. Manage risk properly.
Price is currently around $0.8208, down 8.48% over the last 24 hours. The sharp rejection from $1.0627 and the long upper wick show that sellers quickly absorbed the breakout attempt. Although volume was very strong during the move, buying momentum faded as the session progressed, leaving the broader trend bearish.
Unless price reclaims the $1.00 region, rallies are likely to face selling pressure.
📊 Key levels to watch:
• Resistance: $1.0000 – $1.0627
• Support: $0.6555
• Major support: $0.5000
Possible plan 👇
🔴 Short Zone: $0.8400 – $0.8800
🎯 Target 1: $0.7600
🎯 Target 2: $0.7000
🎯 Target 3: $0.6555
❌ Invalidation / Stop Loss: Above $1.0000
The overall structure still favors the bears. Any relief rally toward resistance could provide another opportunity for sellers unless $1.00 is reclaimed with strong volume.
No financial advice. Manage risk properly.