Price has pulled back into a potential demand zone after an extended bullish impulse and is now reacting near a structural support level. This corrective move appears healthy within the broader uptrend structure, and current price action suggests buyers may be stepping back in.
RSI on the 30-minute chart is approaching oversold conditions, currently hovering near 30, which adds momentum confluence to this potential bounce setup. The pair is also forming a possible higher low, which aligns with bullish continuation patterns.
The reaction from this level will be critical — if buyers defend it, we may see a renewed push toward previous highs and continuation of the larger trend.
This setup is driven by structure, momentum context, and the expectation of trend continuation following a controlled pullback.
Patience is key as we watch for confirmation and strong candle formations that align with this thesis.
RSI on the 30-minute chart is approaching oversold conditions, currently hovering near 30, which adds momentum confluence to this potential bounce setup. The pair is also forming a possible higher low, which aligns with bullish continuation patterns.
The reaction from this level will be critical — if buyers defend it, we may see a renewed push toward previous highs and continuation of the larger trend.
This setup is driven by structure, momentum context, and the expectation of trend continuation following a controlled pullback.
Patience is key as we watch for confirmation and strong candle formations that align with this thesis.
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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.