🔎 Technical Breakdown
Current Price Context
Trading at $30.62, just above trendline support (~$30.46).
Price is consolidating under a resistance zone ($31.23–$32.77).
RSI: 52.09 → Neutral, slightly bullish bias.
Support & Demand Zones
Immediate support: $30.46 (ascending trendline + short-term demand).
Stronger supports:
$29.59–$28.59 (Fib cluster, potential retracement).
$27.13 (swing low).
$26.00–$25.19 (200-day EMA + equilibrium zone).
Resistance & Supply Zones
Near-term resistance: $31.23–$32.77 (weak high, premium zone).
Higher targets (Fibonacci extensions):
$35.29 (1.236)
$36.84 (1.382)
$39.35–$40.00 (1.618 / psychological round number)
Aggressive extension: $41.15–$41.87
Volume & Structure
Volume spikes confirm liquidity grabs at lows and highs.
Multiple Breaks of Structure (BOS) confirm bullish order flow.
Trendline + Fib confluence suggests continuation if $30 holds.
📈 Bias & Scenarios
Primary Bias: Bullish
As long as $30.46 holds, upside targets: $35 → $39.35 → $40.
Momentum could accelerate if $32.77 gets cleared with volume.
Bearish Scenario (Invalidation):
Break below $30.46 → test $29.59–$28.59.
Further breakdown → $27.13 or even $26 zone.
🎯 Trade Ideas (Educational)
Swing Long
Entry: $30.50–30.70
SL: Below $29.50
TP1: $35.29 | TP2: $39.35 | TP3: $40+
Breakout Long
Entry: Close above $32.77
SL: Below $31.00
TP1: $36.84 | TP2: $39.35–$40
Cautious Short (only if trendline fails)
Entry: Break & close below $30.40
SL: Above $31.50
TP: $28.50 → $27.13
🧠 Strategic Note
Institutions likely defending $30–31 zone (confluence of Fib, BOS, trendline).
Weak high above suggests liquidity magnet → probability favors bullish continuation.
RSI neutral → leaves room for expansion.
⚖️ Conclusion: Hold bullish bias above $30.46 with eyes on $35 → $39.35–40.
If broken, flip to bearish targeting $28–27.
Current Price Context
Trading at $30.62, just above trendline support (~$30.46).
Price is consolidating under a resistance zone ($31.23–$32.77).
RSI: 52.09 → Neutral, slightly bullish bias.
Support & Demand Zones
Immediate support: $30.46 (ascending trendline + short-term demand).
Stronger supports:
$29.59–$28.59 (Fib cluster, potential retracement).
$27.13 (swing low).
$26.00–$25.19 (200-day EMA + equilibrium zone).
Resistance & Supply Zones
Near-term resistance: $31.23–$32.77 (weak high, premium zone).
Higher targets (Fibonacci extensions):
$35.29 (1.236)
$36.84 (1.382)
$39.35–$40.00 (1.618 / psychological round number)
Aggressive extension: $41.15–$41.87
Volume & Structure
Volume spikes confirm liquidity grabs at lows and highs.
Multiple Breaks of Structure (BOS) confirm bullish order flow.
Trendline + Fib confluence suggests continuation if $30 holds.
📈 Bias & Scenarios
Primary Bias: Bullish
As long as $30.46 holds, upside targets: $35 → $39.35 → $40.
Momentum could accelerate if $32.77 gets cleared with volume.
Bearish Scenario (Invalidation):
Break below $30.46 → test $29.59–$28.59.
Further breakdown → $27.13 or even $26 zone.
🎯 Trade Ideas (Educational)
Swing Long
Entry: $30.50–30.70
SL: Below $29.50
TP1: $35.29 | TP2: $39.35 | TP3: $40+
Breakout Long
Entry: Close above $32.77
SL: Below $31.00
TP1: $36.84 | TP2: $39.35–$40
Cautious Short (only if trendline fails)
Entry: Break & close below $30.40
SL: Above $31.50
TP: $28.50 → $27.13
🧠 Strategic Note
Institutions likely defending $30–31 zone (confluence of Fib, BOS, trendline).
Weak high above suggests liquidity magnet → probability favors bullish continuation.
RSI neutral → leaves room for expansion.
⚖️ Conclusion: Hold bullish bias above $30.46 with eyes on $35 → $39.35–40.
If broken, flip to bearish targeting $28–27.
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.