$SQD USDT Rejected at 0.04214 – Sellers Defending the Supply Zone
SQDUSDT is showing clear rejection near 0.0421428, signaling that sellers are stepping in aggressively at resistance. The structure currently favors short-term downside continuation.
Technical Analysis:
Support and Resistance:
Key resistance is located around 0.0420–0.0435. Price rejection from this zone suggests strong supply pressure.
Immediate support sits near 0.0400. If this level breaks, the next downside targets are 0.0375 and then 0.0350, which previously acted as demand zones.
Moving Averages:
Price is trading below short-term moving averages, indicating short-term weakness. If the faster MA remains below the slower MA, bearish momentum is likely to continue. Any rejection from these MAs would strengthen the sell bias.
RSI:
RSI is trending below the 50 level, confirming bearish momentum. A drop toward 30 would indicate increasing selling pressure, while any bounce toward 50 could signal a temporary pullback.
MACD:
MACD is showing bearish momentum with histogram turning negative. A confirmed bearish crossover supports continuation toward lower support levels.
Market Sentiment:
Short-term sentiment is Bearish. The lower high formation near resistance suggests distribution rather than accumulation. Bulls need a strong reclaim above 0.0435 to shift momentum back in their favor.
Strategy:
Entry: 0.0421428 near resistance offers a favorable risk-to-reward short setup.
Targets: 0.0400 first, then 0.0375.
Invalidation: Strong close above 0.0435 with increased volume.
Recommendation: Trade with caution. If already in position, consider partial profit at first support and trail stop loss. If not in yet, wait for a confirmed breakdown below 0.0400 for safer continuation.
Proper risk management is essential, especially in low-cap volatility environments.
Are you holding the short on SQD, or waiting for confirmation below support?
Not Financial Advice (NFA). Always do your own research before making trading decisions.
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