Trend: The asset is in a clear short-term uptrend, staying within a rising channel.
Support Zone: Price is currently testing the lower channel support, a common place for bullish reversals if the channel remains intact.
Resistance Zone: There is a horizontal resistance area marked in gray around the $3,340–$3,360 range, which aligns with prior price reactions.
Potential Setup: If the price respects the trendline, a long position with a target near the upper channel line (around $3,370–$3,400) could be considered. A stop loss might be placed just below the channel to manage risk.
Support Zone: Price is currently testing the lower channel support, a common place for bullish reversals if the channel remains intact.
Resistance Zone: There is a horizontal resistance area marked in gray around the $3,340–$3,360 range, which aligns with prior price reactions.
Potential Setup: If the price respects the trendline, a long position with a target near the upper channel line (around $3,370–$3,400) could be considered. A stop loss might be placed just below the channel to manage risk.
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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.
Related publications
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.