$LPT
LPTUSDT — Retesting Previous Breakdown Level as New Resistance
LPTUSDT is trading near $3.151, after a significant decline that broke below the key $3.24 - $3.40 support zone, which has now flipped to resistance. The price is consolidating near lows, showing weak momentum and potential for a continuation lower if it fails to reclaim the broken structure.
Trade Plan
Entry (Short): $3.20 - $3.30 (On a retest of the previous support, now resistance zone)
Target 1: $2.90 (Immediate support and psychological level)
Target 2: $2.70 (Next significant support level and measured move target)
Stop Loss: $3.45 (Above the resistance zone and recent swing high)
My View
LPTUSDT structure is bearish with a recent breakdown. The plan is to short any retracement into the newly created resistance zone for a move toward the $2.70 area. A break above $3.45 would invalidate the immediate bearish thesis.
