Go through the analysis carefully.
1. Resistance and Support Zones:
The chart highlights key resistance and support zones.
The price has reacted multiple times to these levels.
2. Downtrend Line:
A downward trendline is present, acting as resistance.
Price has tested this trendline multiple times and failed to break above it.
3. Current Price Action:
The price is approaching a resistance zone near $3,028.
If it fails to break above, a downward move is expected towards the support zone around $3,010-$3,015.
If it breaks above, it may target higher resistance levels around $3,044 or above.
4. Expected Movement:
The chart suggests a possible rejection from the resistance zone, leading to a bearish move.
Alternatively, a breakout above resistance could lead to a bullish move.
what are your thoughts about my analysis?
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1. Resistance and Support Zones:
The chart highlights key resistance and support zones.
The price has reacted multiple times to these levels.
2. Downtrend Line:
A downward trendline is present, acting as resistance.
Price has tested this trendline multiple times and failed to break above it.
3. Current Price Action:
The price is approaching a resistance zone near $3,028.
If it fails to break above, a downward move is expected towards the support zone around $3,010-$3,015.
If it breaks above, it may target higher resistance levels around $3,044 or above.
4. Expected Movement:
The chart suggests a possible rejection from the resistance zone, leading to a bearish move.
Alternatively, a breakout above resistance could lead to a bullish move.
what are your thoughts about my analysis?
support us by liking, following and sharing the post.
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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.
Are you ready to take your trading skills to the next level? our channel provide free signals for trade, experts insights and daily updates to help you stay ahead of the market.
t.me/+dSaypw2DprY3ZTdk
t.me/+dSaypw2DprY3ZTdk
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.