$ELSA is experiencing a significant downward trend with notable selling pressure on the daily chart. Price action indicates that the bullish defense line has been breached.
🎯 Direction: Short
🎯 Entry: 0.145 - 0.148
🛑 Stop Loss: 0.155 (rigid stop loss)
🚀 Target 1: 0.135
🚀 Target 2: 0.125
$$ELSA is declining with high trading volume, and market logic suggests combining this with open interest observations. The current market shows that selling pressure is dominant, and the price has easily broken through recent support without any effective buying absorption appearing. This type of volume-driven decline typically indicates a continuation of the trend rather than a simple correction. Before a clear bottom reversal signal appears, going short in accordance with the trend is the path of least resistance.
Trade here 👇$ELSA
ELSAUSDT
Perp
0.08317
+21.22%
---
Follow me: Get more real-time analysis and insights on the crypto market!