Phemex Token (PTUSDT) Poised for a PullbackPT, the native token of the Phemex exchange (which I highly recommend for contract trading, by the way), has been on an impressive uptrend across higher timeframes since its listing on Spot six months ago and its recent entry on Futures just a couple of weeks back. Currently at its all-time high (ATH), I anticipate a correction on the 4H chart towards its support area at $1.03. This is supported by the bearish divergence evident in the MACD indicator. Let's observe how this plays out.
Proposed Short Trade:
Entry Price: 1.2
Take Profit: 1.03
Stop Loss: 1.27
