【$SPACE Signal】Short | Weak consolidation after volume breakout

$SPACE After a volume surge and a -21% plunge, the price is undergoing weak consolidation at a low level. The price action indicates a typical downward continuation rather than effective support. High open interest combined with falling prices suggests forced liquidations of longs or continuous distribution by the main players, indicating a market structure that has shifted to a bearish dominance.

🎯Direction: Short (Short)

🎯Entry: 0.0195 - 0.0200

🛑Stop Loss: 0.0215 (Rigid stop loss, breaking this level invalidates the downward structure)

🚀Target 1: 0.0170

🚀Target 2: 0.0150

$SPACE On the daily chart, volume surges with long bearish candles breaking through all short-term moving averages, forming a strong bearish engulfing pattern. The current minor rebound is accompanied by shrinking volume, typical of a technical retracement after selling pressure. Falling prices under high open interest signal strong bearish sentiment. No effective buy absorption has appeared; any rebound to the previous breakdown area (around 0.0200) presents a new shorting opportunity.

Trade here 👇 $SPACE

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