JELLY – Impulsive Bounce From Key Fibonacci Demand Zone
After a prolonged downtrend, price has finally stabilized within the 0.5–0.618 Fibonacci retracement zone, where volatility noticeably compressed. This area acted as a clear demand cluster, suggesting sellers have exhausted momentum.
Now, JELLY is showing an impulsive rebound from this zone, signaling a potential shift in market structure and the beginning of a larger bullish leg.
If the current impulse continues, the next upside targets based on the Fibonacci extension levels are:
$0.25 – first major resistance and psychological level
$2.30 – the 1.618 Fibonacci extension, aligning with the primary breakout target
As long as price holds above the recent accumulation range, the bullish scenario remains valid.
Now, JELLY is showing an impulsive rebound from this zone, signaling a potential shift in market structure and the beginning of a larger bullish leg.
If the current impulse continues, the next upside targets based on the Fibonacci extension levels are:
$0.25 – first major resistance and psychological level
$2.30 – the 1.618 Fibonacci extension, aligning with the primary breakout target
As long as price holds above the recent accumulation range, the bullish scenario remains valid.
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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.