$EDGE is approaching a supply zone where sellers are likely to regain control.
EDGE has risen from 0.321 to 0.4078 — a 26% gain. Price is now nearing a resistance level where selling pressure has historically increased. RSI at 74 — overbought. Volume is starting to dry up.
Trading Plan Short $EDGE
Entry: 0.405 – 0.409
SL: 0.415
TP1: 0.392
TP2: 0.375
TP3: 0.355
The recent recovery has carried price into a zone that previously acted as resistance. The move higher still appears corrective. If sellers defend this area, we could see a pullback toward the liquidity resting beneath the recent swing lows.
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