$STG USDT Rejection at 0.2112 – Sellers Taking Control
STGUSDT is showing clear weakness after the SELL trigger at 0.2112000. The recent price action suggests distribution near resistance, with momentum shifting back to the downside.
Technical Analysis:
Support and Resistance:
Strong resistance is sitting around 0.2150–0.2200. Price has struggled to break and hold above this zone, indicating heavy supply.
Immediate support is near 0.2050. If this level breaks, the next downside target sits around 0.1950–0.1900, which is a key demand area from previous consolidation.
Moving Averages:
Price is trading below short-term moving averages, and if the faster MA remains under the slower MA, it confirms short-term bearish continuation. Any rejection from the MAs would strengthen the sell bias.
RSI:
RSI is trending below the 50 level, showing bearish momentum dominance. If RSI drops toward 30, it could signal oversold conditions, but currently it supports downside continuation.
MACD:
MACD appears to be crossing bearish with histogram turning negative. This adds confirmation to the short-term sell setup.
Market Sentiment:
Short-term sentiment is Bearish. Lower highs and resistance rejection indicate sellers are in control. Unless STG reclaims and closes above 0.2200 with strong volume, upside momentum remains limited.
Strategy:
Entry: 0.2112000 looks valid near resistance.
Targets: 0.2050 first target, then 0.1950 zone.
Invalidation: Strong close above 0.2200.
Recommendation: Trade with risk management. If already in short, consider partial profits near support and trail stop loss. If not in position, wait for confirmation below 0.2050 for safer continuation entry.
Discipline and position sizing are key in volatile altcoins.
Are you shorting STG here, or waiting for a deeper breakdown?
Not Financial Advice (NFA). Always do your own research before trading.
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