MTL/USDT Chart Analysis 📉
Current Trend:
Downtrend with continuous new lows while trading below the 200 EMA.
Observations:
Downtrend Confirmation:
$MTL is clearly in a downtrend, consistently hitting new lows.
Resistance at 200 EMA:
The price is getting rejected at a resistance zone near
the 200 EMA after a pullback.
Bearish Continuation Expected:
It's anticipated that the price will keep testing new lows in the near future.
Trading Plan:
Entry Point: $1.117
Target Price: $0.830
Stop Loss (SL): $1.317