$RARE Is ready to decline:
2. Key Signals for a Decline:
Resistance Rejection:
If the price fails to break above 0.1387 and shows bearish candles (like a shooting star or bearish engulfing), this would confirm resistance rejection.
Bearish Divergence:
Look for any divergence between price and RSI/Stochastic RSI (price making higher highs while RSI or Stochastic RSI makes lower highs).
Decreasing Volume:
If the current upward move is accompanied by decreasing volume, it could signal weakening momentum.
3. Next Support Levels (Potential Targets):
First Support: 0.1300 — minor support, could act as a bounce zone.
Second Support: 0.1250 — significant support around the EMA cluster.
Final Support: 0.1158 — key level if bearish momentum intensifies.
4. Short Setup:
Entry: Look for bearish confirmation around 0.1370 - 0.1385.
Stop Loss: Above 0.1400 to limit risk.
Take Profit Levels:
1. 0.1300 (First target).
2. 0.1250 (Main target).
3. 0.1158 (Extended target for strong bearish moves).
Conclusion:
Based on the overbought signals and resistance, RARE/USDT appears ready for a decline if it fails to break and hold above 0.1387. Watch for confirmation signs (bearish candles, reduced volume). Lt me know if you need more clarification!
2. Key Signals for a Decline:
Resistance Rejection:
If the price fails to break above 0.1387 and shows bearish candles (like a shooting star or bearish engulfing), this would confirm resistance rejection.
Bearish Divergence:
Look for any divergence between price and RSI/Stochastic RSI (price making higher highs while RSI or Stochastic RSI makes lower highs).
Decreasing Volume:
If the current upward move is accompanied by decreasing volume, it could signal weakening momentum.
3. Next Support Levels (Potential Targets):
First Support: 0.1300 — minor support, could act as a bounce zone.
Second Support: 0.1250 — significant support around the EMA cluster.
Final Support: 0.1158 — key level if bearish momentum intensifies.
4. Short Setup:
Entry: Look for bearish confirmation around 0.1370 - 0.1385.
Stop Loss: Above 0.1400 to limit risk.
Take Profit Levels:
1. 0.1300 (First target).
2. 0.1250 (Main target).
3. 0.1158 (Extended target for strong bearish moves).
Conclusion:
Based on the overbought signals and resistance, RARE/USDT appears ready for a decline if it fails to break and hold above 0.1387. Watch for confirmation signs (bearish candles, reduced volume).
