Double Zero... Double bottom bounce?2Z is coming out of a prolonged downtrend and starting to show signs of stabilization. Price has repeatedly defended a key demand area, suggesting selling pressure is fading while buyers are becoming more active.
From a structure standpoint, the chart is beginning to shift. Lower lows have stalled and price is forming a base, with short-term trend dynamics improving. This points to a potential transition phase, though price is still capped by a clear overhead supply zone.
What stands out is the behavior beneath resistance. Despite limited upside expansion so far, underlying strength continues to build, which is often seen during accumulation rather than distribution. This sets the stage for a stronger move if price can reclaim and hold above that key resistance area.
Key Takeaways
Sellers are losing control
Demand is holding consistently
Structure is attempting to shift
Reclaiming resistance is the main confirmation
Still early, but the setup is improving. Patience and confirmation are key.
