$LYN Market Update: Correction Phase Analysis
$LYN saw a $2.341K short liquidation at $0.18668, indicating temporary short-covering activity. Despite this, the broader trend remains bearish, with price trading below key moving averages — 7-day, 30-day, 50-day, and 200-day — and breaking below the main pivot point along with critical Fibonacci retracement levels. RSI is in oversold territory, suggesting potential short-term relief bounces, while MACD continues to signal bearish control.
The 24-hour price range shows declining volume and net outflows, reflecting cautious market participation. Immediate support is at $0.185, with a stronger zone between $0.184–$0.1855. Downside risk extends toward $0.183–$0.1835, while near-term resistance lies at $0.188–$0.189 and $0.19–$0.191.
Short-term bounces may occur due to oversold conditions, but the broader trend remains weak until major resistance levels are reclaimed. Watch for volume confirmation on any reversal attempt. DYOR.
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