STRAX Faces Strong Resistance as Sellers Dominate: Crypto Patel Maps Bearish Path

STRAX continues to form lower highs on the 4H chart, with repeated rejections below $0.056 reinforcing bearish control.Despite a 5.3% intraday gain, STRAX failed to clear key resistance, showing bulls lack the strength to shift the broader trend.Price action suggests sellers remain dominant as STRAX stalls below the CISD level, targeting deeper liquidity near $0.04046.STRAX continues to follow a bearish trajectory despite short-term gains observed in the latest 24-hour trading session. Current technical indicators confirm a downward market structure with signs of sustained selling pressure from recent resistance zones.Market Structure Confirms Bearish OutlookStratis' price movement over recent days suggests sellers remain in control despite minor bullish attempts within intraday sessions. Liquidity levels near resistance zones continue to attract selling interest, dampening bullish momentum. This development introduces key observations from the recent four-hour chart activity.After a sharp rally between April 10 and 16, STRAX peaked above $0.070 before retracing sharply. According to market analyst Crypto Patel, “STRAX maintains a bearish market structure on the 4-hour timeframe, with price action confirming a shift in order flow after sweeping both buy-side and sell-side liquidity.” Source: Crypto PatelThe analyst identified a rejection block just below $0.066, noting that the price tapped this zone before a strong bearish displacement. His analysis emphasized the formation of lower highs and lower lows, with failed attempts to reclaim the $0.056 resistance zone.He described a Change in Structure (CISD) level near $0.054 as a critical resistance area. Patel’s short-bias entry strategy focuses on waiting for the price to revisit this CISD zone and show clear rejection. His target sits near $0.04046, aligned with a key liquidity pool where long stop-losses likely cluster. The stop-loss level stands at $0.064, maintaining risk discipline amid volatile intraday spikes.Intraday Price Movements Show Temporary StrengthIn addition to the previous points, it is important to consider intraday price behavior that briefly favored buyers. From CoinMarketCap data, the 24-hour chart ending May 8 reveals a 5.3% gain for STRAX. Price rose from $0.0507 to $0.0534, closing at session highs with strong bullish candlesticks.Candlestick formations from midnight to 4:00 AM showed consistent green candles, indicating buyer strength and low volatility. However, this upward movement did not breach major resistance zones marked by the rejection block or CISD level. The morning session between 8:00 AM and 12:00 PM saw consolidation near $0.0528, with indecision returning to the market.Source: CoinMarketCapBuilding on this information, further analysis shows the final breakout near $0.0534 lacked follow-through. While buyers led briefly, the overall market structure remains tilted toward continued downside risk unless $0.056 is reclaimed.The post STRAX Faces Strong Resistance as Sellers Dominate: Crypto Patel Maps Bearish Path appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.