Support and Resistance Levels
Resistance Levels:
$2.745 – $2.760 zone → Strong resistance from previous swing highs (seen multiple rejections here).
$2.87 – $2.90 → Smaller resistance, visible as a local high.
$3.10 – $3.20 → Psychological round number and a potential target if a breakout occurs.
Support Levels:
$2.12 – $2.15 → Strong support zone (also 50–61.8% Fib retracement area).
$1.95 → Key support level from the bottom of the range, previous major low.
$2.29 – $2.31 → Minor support, marked by local consolidation.
Entry Price for Long Trade (Breakout Strategy)
Aggressive Entry: Around $2.50, on confirmation of higher low and early momentum shift. (Stop loss below $2.30)
Conservative Entry: Wait for breakout above $2.75, retest and support confirmation → enter around $2.76 – $2.78.
Target 1: $2.90
Target 2: $3.10 – $3.20
Stop loss: Below $2.60 or $2.50 depending on your risk appetite.
Resistance Levels:
$2.745 – $2.760 zone → Strong resistance from previous swing highs (seen multiple rejections here).
$2.87 – $2.90 → Smaller resistance, visible as a local high.
$3.10 – $3.20 → Psychological round number and a potential target if a breakout occurs.
Support Levels:
$2.12 – $2.15 → Strong support zone (also 50–61.8% Fib retracement area).
$1.95 → Key support level from the bottom of the range, previous major low.
$2.29 – $2.31 → Minor support, marked by local consolidation.
Entry Price for Long Trade (Breakout Strategy)
Aggressive Entry: Around $2.50, on confirmation of higher low and early momentum shift. (Stop loss below $2.30)
Conservative Entry: Wait for breakout above $2.75, retest and support confirmation → enter around $2.76 – $2.78.
Target 1: $2.90
Target 2: $3.10 – $3.20
Stop loss: Below $2.60 or $2.50 depending on your risk appetite.
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.