hi traders,
* Reclaimed Support Zone
Price has successfully reclaimed a key historical support around the $8.06–$8.72 range, which previously acted as a base before major rallies. This suggests growing buyer interest at this level.
* RSI Breakout
On the RSI, we’ve seen a clean breakout from a long-term descending trendline, which has capped momentum since late 2023. This momentum shift increases the probability of a bullish continuation.
* Reward/Risk Outlook
This setup shows two potential targets:
🎯 Target 1: $12.80 (mid-range resistance)
🎯 Target 2: $17.34 (multi-year resistance level)
Stop-loss is strategically placed below the reclaimed support zone at around $7.76–$7.79, offering a favorable risk/reward profile.
The confluence of technical signals—price reclaiming support and momentum confirmation via RSI breakout—indicates a possible trend reversal. Bulls could be regaining control, making this an attractive swing opportunity.
* Reclaimed Support Zone
Price has successfully reclaimed a key historical support around the $8.06–$8.72 range, which previously acted as a base before major rallies. This suggests growing buyer interest at this level.
* RSI Breakout
On the RSI, we’ve seen a clean breakout from a long-term descending trendline, which has capped momentum since late 2023. This momentum shift increases the probability of a bullish continuation.
* Reward/Risk Outlook
This setup shows two potential targets:
🎯 Target 1: $12.80 (mid-range resistance)
🎯 Target 2: $17.34 (multi-year resistance level)
Stop-loss is strategically placed below the reclaimed support zone at around $7.76–$7.79, offering a favorable risk/reward profile.
The confluence of technical signals—price reclaiming support and momentum confirmation via RSI breakout—indicates a possible trend reversal. Bulls could be regaining control, making this an attractive swing opportunity.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.