Pundi X is experiencing a bearish reversal as market dynamics shift, raising concerns among traders. As pointed out in the source, it is important to note that with liquidity sweeps and a predominance of long positions, analysts are closely monitoring potential price declines.
Downside Targets for Pundi X
Recent analysis indicates downside targets for Pundi X at 0.2902 and 0.2806, suggesting that traders should brace for possible price drops. The current trading activity reveals a notable change in market sentiment, with a heavy inclination towards long positions. This trend raises the risk of liquidations, particularly if the critical support level at 0.30 is breached.
Increasing Selling Pressure
Moreover, the market is exhibiting increasing selling pressure, which could exacerbate the situation. If the bearish trend persists, traders may witness significant price declines in the near future, prompting a reevaluation of their positions.
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