Market Sentiment
The short-term sentiment has shifted to bearish after a strong bullish impulse failed to continue.
Price initially formed a strong upward move but is now showing:
Lower highs formation
Rejection near local resistance
Breakdown attempt from a rising trendline
This indicates momentum exhaustion and potential transition into a pullback phase.
Key Levels
Major Support
$4,437 ā Immediate intraday support (target area)
$4,420 ā Secondary support zone
Major Resistance
$4,500 ā Key intraday resistance
$4,525 ā Previous high / supply zone
Key Pivot Level
$4,495
Price currently trading below this level signals short-term bearish pressure.
Primary Scenario
If price fails to reclaim $4,495 and breaks the trendline, downside continuation is likely.
Condition
Rejection below resistance + trendline breakdown
Targets
Target 1 ā $4,437
Target 2 ā $4,420
Target 3 ā $4,400
This aligns with the liquidity grab below support.