1. Current Price Action: The price is hovering around 0.402. A key rising trendline has been broken, signaling a potential bearish reversal.
2. Support and Resistance: - Resistance: 0.418 → 0.438 - Support: 0.402 → 0.384
3. EMA200 (4H): The price is sitting just above the EMA200. A break below this level would confirm further downside potential.
4. Supertrend: The Supertrend indicator is bearish, aligning with the downward momentum.
Trade Setup: - Short trigger: If the price breaks below 0.402 with confirmation (strong volume). - Stop-loss: 0.418 (resistance area). - Take-profit: First target at 0.384, with potential continuation lower.
Key Notes: - Watch for volume confirmation on the break of 0.402. - EMA200 is critical: a break below it would strengthen the bearish bias. - If bulls reclaim 0.418, this setup becomes invalid, and a move toward 0.438 may follow.
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