🔥 $RONIN: Bearish Setup After Consolidation Near Highs
Despite recent consolidation near highs, $RONIN shows signs of an impending correction on the 1-hour timeframe. We are looking for potential short opportunities.
📊 Price Action & Key Levels:
The rally from 0.1460 to 0.2177 (+49%) appears overextended.
Resistance is identified at 0.1998–0.2000 (upper Bollinger Band) and 0.2227. The 24H high of 0.2177 was rejected, leading to consolidation near 0.1904.
Critical support levels are 0.1719 and 0.1711 (MA20). A confirmed break below these could trigger a deeper correction.
📉 Momentum & Capital Flows:
Recent 1H candles show declining volume (e.g., last 1H at 34K vs. 100M+ peaks), indicating weakening bullish momentum.
Consistent net outflows are observed in both spot and futures across all timeframes, with a notable -1.42M USDT futures outflow in the 1H. This points to profit-taking and weakening sentiment.
🚀 Short Entry Plan:
Entry 1: Short near 0.199–0.200 (upper Bollinger Band resistance), confirmed by a bearish 1H candle (e.g., pin bar or engulfing).
Entry 2: Alternatively, short on a confirmed break below 0.1719 (support) with volume.
⚠️ Risk Management:
SL: 3–5% above entry (e.g., 0.21 if shorting at 0.20).
🎯 TP1: 0.1720 (Support zone with MA20 confluence).
🎯 TP2: 0.1440 (Next support if bearish momentum accelerates).
(RONINUSDT)
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