SPORTFUN has recently shown an interesting trend—breaking below a key level amid a significant increase in volume, forming a typical breakdown structure. From the market performance, selling pressure has consistently dominated, and each rebound is quickly suppressed.
From a technical perspective, this coin is currently in a clear weak state. Buying absorption capacity is evidently insufficient, with high trading volume accompanied by falling prices, which usually indicates strong market selling willingness. Looking downward, there is a lack of effective support levels below, and based on the energy release, there is still room for further decline.
The trading strategy is as follows: for short positions, establish shorts in the range of 0.0940 to 0.0960, with a stop-loss set at 0.1020 (this is rigid and must be executed). The first profit target is 0.0850; if it reaches there, the next target can be 0.0750.
The key is to wait until the price reclaims the key resistance above and shows genuine demand signals before considering that downside is the least resistant path.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
14 Likes
Reward
14
5
Repost
Share
Comment
0/400
AirdropDreamBreaker
· 6h ago
Another break below support and selling pressure, it sounds bearish. Is this time really going to fall to the bottom?
View OriginalReply0
GreenCandleCollector
· 6h ago
It's breaking below again. This coin really loves to plunge; the sell orders keep pushing it down.
View OriginalReply0
OnchainUndercover
· 6h ago
Can it rebound after breaking below? I don't understand why this coin is so resistant to falling.
View OriginalReply0
GasFeeDodger
· 6h ago
It's another classic breakdown, with such fierce selling pressure. Does anyone really dare to buy the dip?
View OriginalReply0
ser_we_are_ngmi
· 6h ago
It's the same old story again; short sellers are in favor now.
SPORTFUN has recently shown an interesting trend—breaking below a key level amid a significant increase in volume, forming a typical breakdown structure. From the market performance, selling pressure has consistently dominated, and each rebound is quickly suppressed.
From a technical perspective, this coin is currently in a clear weak state. Buying absorption capacity is evidently insufficient, with high trading volume accompanied by falling prices, which usually indicates strong market selling willingness. Looking downward, there is a lack of effective support levels below, and based on the energy release, there is still room for further decline.
The trading strategy is as follows: for short positions, establish shorts in the range of 0.0940 to 0.0960, with a stop-loss set at 0.1020 (this is rigid and must be executed). The first profit target is 0.0850; if it reaches there, the next target can be 0.0750.
The key is to wait until the price reclaims the key resistance above and shows genuine demand signals before considering that downside is the least resistant path.