🔹 Price Structure:
Price is in a short-term downtrend channel.
Currently trading at $3,336, heading towards a major support zone around $3,315–$3,310.
RSI at 36.6 is nearing oversold territory – indicating downside momentum slowing.
🔹 Key Zones:
Support: $3,315 (major support with bounce potential)
Resistance: $3,380 (target if support holds)
Breakdown target: $3,290 (if major support breaks)
🔹 Price Action Possibilities:
🔁 Bounce Scenario: Price touches major support, RSI bounces, and price rallies back to $3,380 (drawn with the up arrow).
🔻 Breakdown Scenario: Price fails to hold support and drops toward $3,290 (red arrow path).
Price is in a short-term downtrend channel.
Currently trading at $3,336, heading towards a major support zone around $3,315–$3,310.
RSI at 36.6 is nearing oversold territory – indicating downside momentum slowing.
🔹 Key Zones:
Support: $3,315 (major support with bounce potential)
Resistance: $3,380 (target if support holds)
Breakdown target: $3,290 (if major support breaks)
🔹 Price Action Possibilities:
🔁 Bounce Scenario: Price touches major support, RSI bounces, and price rallies back to $3,380 (drawn with the up arrow).
🔻 Breakdown Scenario: Price fails to hold support and drops toward $3,290 (red arrow path).
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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.
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.