Main Trend: Still under a long‑term descending trendline — sellers have been in control for weeks. Around $4.050, showing a recovery from recent lows but still below key resistance zones.
The bounce from 3.605 shows buyers stepping in, but the red resistance zone at 4.268 is the first real test.
A decisive break above 4.486 would be a strong bullish signal, potentially targeting the 5.00 area.
The descending trendline remains intact — breaking it is essential for a medium‑term trend reversal.
Bullish: Break above 4.268 → test 4.486 → if cleared, momentum could carry toward 5.00.
Bearish: Rejection at 4.268 or 4.486 → pullback toward 3.605 → break lower could revisit 3.512.
The bounce from 3.605 shows buyers stepping in, but the red resistance zone at 4.268 is the first real test.
A decisive break above 4.486 would be a strong bullish signal, potentially targeting the 5.00 area.
The descending trendline remains intact — breaking it is essential for a medium‑term trend reversal.
Bullish: Break above 4.268 → test 4.486 → if cleared, momentum could carry toward 5.00.
Bearish: Rejection at 4.268 or 4.486 → pullback toward 3.605 → break lower could revisit 3.512.
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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.