The chart illustrates a confirmed breakout from a long-term descending channel following an extended period of accumulation near strong support around $0.16–$0.20. A powerful volume surge — the largest in the stock’s history — confirms strong momentum and potential trend reversal.
Price has now closed above the upper boundary of the downtrend channel, signaling a shift from distribution to expansion. The highlighted supply zone between $3.70 and $5.00 represents the next major liquidity target, aligning with a potential 886% measured move from the current breakout level near $0.47.
If price holds above the new support ($0.25 region), this setup favors continuation toward the $5.00 zone in the short term, where previous heavy trading activity and historical resistance converge.
The breakout marks the early phase of what could develop into a full revaluation cycle, contingent on sustained volume and follow-through.
Price has now closed above the upper boundary of the downtrend channel, signaling a shift from distribution to expansion. The highlighted supply zone between $3.70 and $5.00 represents the next major liquidity target, aligning with a potential 886% measured move from the current breakout level near $0.47.
If price holds above the new support ($0.25 region), this setup favors continuation toward the $5.00 zone in the short term, where previous heavy trading activity and historical resistance converge.
The breakout marks the early phase of what could develop into a full revaluation cycle, contingent on sustained volume and follow-through.
Trade active
Here are two vital areas of support. A candle below stoploss would invalidate scenario.
Note
Manage risk . Rules are rules. candle close below and on to the next
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.
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.