PERP/USDT Potential Rejection, Downward Momentum ??
Updated
Yello Paradisers, PERP Analysis: Potential Rejection in Bearish OB Area
💎 PERP recently experienced a significant price surge of over 100%, breaking through supply levels with ease.
💎 However, it faced rejection after hitting the Bearish Order Block (OB). Today, PERP is in a consolidation phase in lower timeframes, which suggests that it may either resume testing the Bearish OB area or experience a sharp drop back to the demand zone around $0.6.
💎 It's worth noting that many low-cap coins have exhibited similar patterns in the past, where they pump significantly and then experience sharp declines in the following days.
💎 Invalidation Scenario: This analysis will be invalidated if PERP breaks the Bearish Invalidation level and closes daily above it.
💎 PERP recently experienced a significant price surge of over 100%, breaking through supply levels with ease.
💎 However, it faced rejection after hitting the Bearish Order Block (OB). Today, PERP is in a consolidation phase in lower timeframes, which suggests that it may either resume testing the Bearish OB area or experience a sharp drop back to the demand zone around $0.6.
💎 It's worth noting that many low-cap coins have exhibited similar patterns in the past, where they pump significantly and then experience sharp declines in the following days.
💎 Invalidation Scenario: This analysis will be invalidated if PERP breaks the Bearish Invalidation level and closes daily above it.
Trade closed: stop reached
PERP Just down 19% after rejection on Bearish OB. After that, PERP Break the bearish OB and Close above the bearish invalidation." If you want to try Short PERP again, wait on monthly supply at $1.2 - $1.4"
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