UselessCoin has officially broken down from key structural support, confirming a continuation of the broader corrective phase. The daily support at $0.21 has been breached with multiple consecutive candle closes below, signaling that bearish momentum remains dominant across both daily and weekly timeframes.
This breakdown marks an important shift in market sentiment, as the inability to defend the $0.21 level invalidates prior support and increases the likelihood of further downside. From a technical standpoint, the next significant area of interest lies around $0.14, which represents a deeper structural support zone and potential liquidity target.
Key Points:
= Support Breakdown: Daily structure has failed at $0.21, confirming weakness.
- Bearish Structure: Consecutive closes below support reinforce downside continuation.
- Next Target: The $0.14 region serves as the next probable corrective objective.
With the weekly trend already established to the downside, there is little evidence of a reversal forming at current levels.
What to Expect:
As long as price action remains below $0.21, the bias stays bearish, with a deeper correction toward $0.14 likely. Only a strong reclaim above daily resistance would shift momentum back in favor of buyers.
This breakdown marks an important shift in market sentiment, as the inability to defend the $0.21 level invalidates prior support and increases the likelihood of further downside. From a technical standpoint, the next significant area of interest lies around $0.14, which represents a deeper structural support zone and potential liquidity target.
Key Points:
= Support Breakdown: Daily structure has failed at $0.21, confirming weakness.
- Bearish Structure: Consecutive closes below support reinforce downside continuation.
- Next Target: The $0.14 region serves as the next probable corrective objective.
With the weekly trend already established to the downside, there is little evidence of a reversal forming at current levels.
What to Expect:
As long as price action remains below $0.21, the bias stays bearish, with a deeper correction toward $0.14 likely. Only a strong reclaim above daily resistance would shift momentum back in favor of buyers.
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
