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$ESPORTS The bears are firmly in control! 🚨
On the 5-minute chart, after the price broke below the trailing stop-loss line at 0.44414 and entered a downtrend, the bears have been exerting pressure for 23 cycles. Although there was a rebound, the price has been consistently held down by the dynamic trendline (currently at 0.44144) and has not been able to break through effectively.
Currently, the price is at 0.43889, just above the recent key support at 0.43688, and is teetering. The MACD is still below the zero line, indicating significant bearish momentum.
⚠️Conclusion: The bearish trend continues, and the price is struggling near the key support level. Caution: if it breaks below 0.43688, the decline may accelerate. Bulls should wait for the price to strongly recover above the trendline before looking for a reversal.