$SPELL
PERP BEARISH REVERSAL AND DOWNSIDE TARGETS
$SPELL is showing signs of bearish pressure after failing to sustain above the key resistance zone. Recent attempts to push higher were rejected, indicating strong selling interest and a potential continuation of the corrective move. Price structure suggests short-term exhaustion and vulnerability to further downside.
The moving averages are aligned for a bearish bias, with MA(7) below MA(25) and MA(99) signaling weakening bullish momentum. Rejection from the supply zone increases the probability of a deeper retracement toward lower demand areas, making this an ideal setup for bears.
TARGETS (TP):
TP1: 0.0002081
TP2: 0.0001978
TP3: 0.0001947
STOP LOSS (SL):
Above 0.0002214
RISK MANAGEMENT:
Use strict stop loss, avoid high leverage, and secure partial profits at each target to protect capital.
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