GRIFFAIN/USDT (1H Chart) – Distribution Phase Signals Short-Term Bearish Reversal
The 1-hour chart of GRIFFAIN/USDT on Binance displays a distribution pattern at the recent high, suggesting bullish exhaustion and an imminent correction. Price has now broken below the consolidation range, confirming a shift in intraday sentiment.
🔍 Key Technical Insights:
Distribution Zone Formed: Price stalled at the top with several failed attempts to push higher, forming a range – a classic sign of distribution before reversal.
Bearish Breakdown: The bearish candle has breached support, initiating a potential downward move toward the 0.5 Fibonacci retracement level.
Key Level to Watch:
Next Target: $0.0400 (50% Fib level + historical demand zone)
Further Support: $0.0360 (Fib 0.786 region)
📉 Outlook & Expectations:
Short-term bias remains bearish below the $0.0458 zone. As long as price stays below the distribution range, expect continuation toward the $0.0400 support area, aligning with key structural and Fibonacci levels.
This setup is ideal for intraday or short-term swing traders watching for pullback entries or breakdown continuation.
The 1-hour chart of GRIFFAIN/USDT on Binance displays a distribution pattern at the recent high, suggesting bullish exhaustion and an imminent correction. Price has now broken below the consolidation range, confirming a shift in intraday sentiment.
🔍 Key Technical Insights:
Distribution Zone Formed: Price stalled at the top with several failed attempts to push higher, forming a range – a classic sign of distribution before reversal.
Bearish Breakdown: The bearish candle has breached support, initiating a potential downward move toward the 0.5 Fibonacci retracement level.
Key Level to Watch:
Next Target: $0.0400 (50% Fib level + historical demand zone)
Further Support: $0.0360 (Fib 0.786 region)
📉 Outlook & Expectations:
Short-term bias remains bearish below the $0.0458 zone. As long as price stays below the distribution range, expect continuation toward the $0.0400 support area, aligning with key structural and Fibonacci levels.
This setup is ideal for intraday or short-term swing traders watching for pullback entries or breakdown continuation.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.