📉 $PROM
Analysis: Bearish Momentum Building?
PROM is currently showing signs of fatigue after failing to sustain its recent bounce. After hitting a wall near the 2.32 – 2.33 resistance zone, sellers have regained control, pushing the price back down to the 2.24 level (approx. -3.7% in 24h).
🔍 Market Insights
Technical Structure: On the 1H chart, we are seeing a consistent pattern of lower highs. The aggressive bearish candles suggest that demand at these levels is thinning out.
Liquidity Sweep: The recent dip toward 2.23 appears to be a hunt for liquidity rather than a bottom. Without a high-volume recovery, the path of least resistance remains down.
The Verdict: As long as PROM stays below intraday resistance, the bears are in the driver's seat. Rallies are currently being treated as exit points for longs or entries for shorts.
🎯 Short-Biased Trade Setup
Entry Zone: 2.26 – 2.29 (Watching for rejection)
Target 1: 2.20
Target 2: 2.12
Target 3: 2.05 📉
Stop Loss: 2.34 (Strict adherence)
⚠️ Invalidation: A solid 1H candle close above 2.34 on strong volume shifts the bias back to bullish and suggests a recovery toward higher targets.
By: Nabiha Noor
If you found this analysis helpful, don't forget to:
✅ Like | 💬 Comment | 🔄 Share
🚀 Follow for more real-time crypto updates!
#TrumpCancelsEUTariffThreat #USIranMarketImpact #PROM #CryptoAnalysis #TradingSignals