Price right now is around 5.60.
Bull case is simple: hold the 200 MA and break the range.
Support and risk
5.62 is your near-term pivot. If price reclaims and holds above it, buyers have control.
5.32 is the key higher-low support. Losing 5.32 puts the whole base in danger.
5.06 is the line in the sand. A clean break below 5.06 means the bullish thesis is wrong and the 200 MA failed.
Bull triggers
Aggressive trigger: reclaim 5.62 and hold it (especially if it closes above).
Safer trigger: breakout over 6.00 to 6.10 (range high area) with volume.
Targets
TP1 around 6.50 (your first marked resistance zone, also the top of the current range structure).
TP2 around 7.00 (next supply zone).
TP3 around 8.50 to 8.70 (the bigger overhead supply area marked near the prior peak zone).
Why it’s bullish at these levels
As long as 5.32 holds, the chart is building higher lows into resistance.
Bull case is simple: hold the 200 MA and break the range.
Support and risk
5.62 is your near-term pivot. If price reclaims and holds above it, buyers have control.
5.32 is the key higher-low support. Losing 5.32 puts the whole base in danger.
5.06 is the line in the sand. A clean break below 5.06 means the bullish thesis is wrong and the 200 MA failed.
Bull triggers
Aggressive trigger: reclaim 5.62 and hold it (especially if it closes above).
Safer trigger: breakout over 6.00 to 6.10 (range high area) with volume.
Targets
TP1 around 6.50 (your first marked resistance zone, also the top of the current range structure).
TP2 around 7.00 (next supply zone).
TP3 around 8.50 to 8.70 (the bigger overhead supply area marked near the prior peak zone).
Why it’s bullish at these levels
As long as 5.32 holds, the chart is building higher lows into resistance.
Catch the move before it happens - ft.wtf/subscribe
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Catch the move before it happens - ft.wtf/subscribe
Join 1,600+ traders.
Join 1,600+ traders.
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.