GRASS is setting up for a major reversal from this falling wedge structure. After a prolonged downtrend, price has now reached the apex of a well-defined descending wedge, supported by a key ascending trendline. This area is shaping up as a high-probability buy zone.
On the chart, we can see price respecting both wedge boundaries and now reacting to the lower support line. This is a classic setup where breakout potential increases significantly. The compression of price action inside the wedge suggests a strong move is imminent.
Looking at Market Cipher B, momentum is showing a clear bullish divergence. Multiple green dots have printed on the oscillator, and money flow, while still negative, is beginning to curve upward. These are early signs that sellers are losing control and buyers are stepping in with strength.
Volume has also dried up on this last leg down, which is typical in wedge structures before a breakout. Low volume near support and divergence on a trusted indicator often marks the beginning of a trend reversal.
From a risk-reward perspective, this setup offers a strong opportunity. A break above the descending resistance could propel price toward the previous key resistance levels around the $3.40 zone. Always place your take profit just below major levels to ensure execution.
Leave your thoughts in the comments. Are you long here or waiting for confirmation? This is not a trade setup, no stop-loss or take-profit is shared publicly. Trade with discipline and confidence.
On the chart, we can see price respecting both wedge boundaries and now reacting to the lower support line. This is a classic setup where breakout potential increases significantly. The compression of price action inside the wedge suggests a strong move is imminent.
Looking at Market Cipher B, momentum is showing a clear bullish divergence. Multiple green dots have printed on the oscillator, and money flow, while still negative, is beginning to curve upward. These are early signs that sellers are losing control and buyers are stepping in with strength.
Volume has also dried up on this last leg down, which is typical in wedge structures before a breakout. Low volume near support and divergence on a trusted indicator often marks the beginning of a trend reversal.
From a risk-reward perspective, this setup offers a strong opportunity. A break above the descending resistance could propel price toward the previous key resistance levels around the $3.40 zone. Always place your take profit just below major levels to ensure execution.
Leave your thoughts in the comments. Are you long here or waiting for confirmation? This is not a trade setup, no stop-loss or take-profit is shared publicly. Trade with discipline and confidence.
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.
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.