$ESPORTS Faces Heavy Selling Pressure – Is the Downtrend Just Beginning?
A sharp 2.6x sell volume spike signals that bears remain firmly in control. Current price action suggests this could be smart money distribution rather than panic selling, increasing the probability of further downside after any weak relief bounce.
The key strategy is patience. Watch for a retest of the 0.03276–0.03400 resistance zone and wait for clear bearish confirmation such as a bearish engulfing candle, pin bar, or lower-high structure on lower timeframes before considering a short position.
Trade Idea: • Entry: Rejection from 0.03276–0.03400 • Targets: 0.03064, 0.02934, and 0.02835 • Stop-Loss: Above the recent swing high or any liquidity grab wick
However, if price breaks and closes above 0.03484 with strong bullish momentum, the bearish outlook becomes invalid. In that case, a short squeeze toward 0.03609 or higher could unfold. Stay disciplined, follow price action, and adapt to changing market structure.
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