$CLO Short Alert: Rejection at the Ceiling!
The relief rally has hit a wall! $CLO is showing heavy rejection from its local resistance zone, confirming that the bears are still firmly in the driver's seat. With the broader market's Fear & Greed Index currently at an Extreme Fear level (7/100), the path of least resistance for low-cap DeFi tokens remains down.
đ Technical Breakdown:
1H Structural Weakness: We just saw a massive rejection wick on the 1H chart. Sellers are aggressively defending the $0.090 â $0.095 supply zone, preventing any sustained breakout.
Smart Money Distribution: Volume on the bounces is thinning, while red candles are showing increased participation. This is a classic distribution phase before another leg lower.
The Downside Gap: With $CLO's concentrated supply (95% held by top addresses), once the $0.084 support cracks, liquidity "air pockets" could lead to a fast slide toward $0.078.
đ The Trade Plan (Short Setup):
Entry: Market Price
Stop Loss (SL): 0.09792 đĄïž (Safe invalidation above the rejection peak)
đŻ Take-Profit Targets:
Target 1: 0.08600 (First liquidity grab)
Target 2: 0.08200 (Key psychological support)
Target 3: 0.07800 (Major structural breakdown)
đĄ Trader's Edge: $CLO is highly sensitive to the Sei Network sentiment. As long as the market remains in "Risk-Off" mode, these mid-range rejections are high-probability entries for short-term traders. Always use tight risk management!
đŹ Community Debate:
Is this the start of a deep correction, or is CLO just baiting the bears before a surprise "Clovis" expansion pump? Drop your charts below! đ
đ Trade CLO now
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