PROPC - PROPCHAIN Daily Chart

9
🧠 Market Structure
📉 Macro Downtrend since December 2024’s all-time high near $2.00.

✅ Recent structure shift: Multiple Change of Character (CHoCH) events from March to May suggest a potential accumulation phase.

🟢 Higher lows forming post-March suggest bullish interest returning, though not fully confirmed yet.

🟥 Multiple equal highs (EQH) near $0.80 – $0.85 indicate a liquidity cluster, potential future breakout target.

🔍 Key Support & Resistance Zones
🔴 Resistance $0.75 – $0.85 Strong rejection area (EQHs stacked)
🔴 Major Supply $1.00 – $1.20 Historical distribution zone
🟦 Local Support $0.50 – $0.56 Holding support – bulls must defend
🔵 Major Demand $0.42 (Weak Low) Final support before major downside risk

📉 Momentum Indicators
Stochastic RSI: Just exited overbought, currently crossing downward.

🔻 Could suggest short-term retracement.

Volume: Declining slightly during the recent price rise — not ideal, shows weak conviction.
RSI (inferred): Neutral zone, but divergence building up from March–May.

🔁 Scenario Forecasts
✅ Bullish Outlook:
If $0.50–$0.56 holds → likely retest of $0.75–$0.85 (EQH liquidity).

Break above $0.85 would be significant → opens path to $1+ zone.
Structural CHoCH + BOS suggests possible reaccumulation phase.

❌ Bearish Outlook:
Breakdown below $0.50 could trigger sharp drop to $0.42 or lower.

Watch for CHoCH to downside and declining volume confirmation.

🟡 Sentiment Summary
PROPC is showing early signs of bottoming, but price is still within a ranging zone. Bulls need to protect $0.50 and push toward $0.80 to confirm a shift to bullish territory. Until then, it’s accumulation—with high risk around $0.42.

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