🚨Did you long $ELSA or short it? 📉
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❌ Major rejection from the highlighted zone (~0.25–0.26)
That area acted as strong resistance. Price tried to push higher, failed, and sellers stepped in aggressively.
🔴 Result:
Strong bearish momentum
Consecutive large red candles
Breakdown toward 0.18 support
🧠 What This Tells Traders
✔️ Buyers were exhausted at resistance
✔️ Smart money likely distributed positions
✔️ No acceptance above the marked zone = short bias confirmed
🔑 Key Levels to Watch
Resistance: 0.24 – 0.26 (previous supply zone)
Current Support: ~0.18
If 0.18 breaks: next liquidity likely lower (0.16 area)
📌 Trading Lesson for Viewers
Never buy directly into resistance.
Wait for:
Break & retest ✅
Or rejection confirmation for shorts ❌
This move was a textbook resistance rejection.
