Support levels: You’ve correctly marked two horizontal supports. The lower one around 0.283 (recent low) and the higher one around 0.34–0.35 zone.
Trendline: There’s a clear ascending trendline, which price briefly broke below before bouncing back.
Volume spike: That huge wick up to 0.6980 looks like a liquidity grab or abnormal spike, not a sustained move.
Current structure: Price is testing the horizontal support at ~0.34 after breaking trendline support. Your curved arrow suggests a rebound from support back toward resistance.
Trendline: There’s a clear ascending trendline, which price briefly broke below before bouncing back.
Volume spike: That huge wick up to 0.6980 looks like a liquidity grab or abnormal spike, not a sustained move.
Current structure: Price is testing the horizontal support at ~0.34 after breaking trendline support. Your curved arrow suggests a rebound from support back toward resistance.
- Bullish scenario: Hold above 0.34 → retest 0.38–0.40 area.
- Bearish scenario: Lose 0.34 → likely retest 0.28.
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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.