Market Structure
Main Trend: Down
ā Series of lower highs and lows
ā Breakout below the downtrend line (which has already happened)
Currently, the price is consolidating low, with no trend reversal signal.
š Price Action
After a strong upward impulse (pump), the market:
failed to maintain the structure
gave back most of the gains
Current price ~9.3 USDT
No clear demand ā small candles, weak momentum
š§± Key Levels (very important)
š“ Support
9.00ā9.30 ā local, weak
~8.00 ā demand zone / lower consolidation range
5.94 ā HARD SUPPORT
Loss = possible further decline / capitulation
š¢ Resistance
12.36 ā nearest Sensible resistance (flip level)
14.98 ā strong structural resistance
19.59 ā 22.77 ā distribution zone (very difficult to break)
26.74 ā 27.58 ā local ATH/supply zone
š Stoch RSI indicator
Currently emerging from oversold territory
This is not a long signal per se
It only gives:
short-term bounce if volume appears
š§ Scenarios
š” Baseline scenario (most likely)
Consolidation 8ā10 USDT
Lack of strength for a breakout
The market is waiting for:
BTC move
or news/volume
š“ Bearish scenario
Loss of ~8 USDT
Test of 5.94
If 5.94 falls ā new Lows
š¢ Bullish scenario (conditional!)
D1 close above 12.36
Retest as support
Targets:
14.98
19.59
Without this ā no medium-term long.
#NMR $NMR