💎 Paradisers, #YGG has recently encountered significant market dynamics. Currently, it appears that YGG is retracing toward the support zone for potential backtesting after encountering strong resistance at the supply zone.
💎 If #YGG successfully bounces from the support area, there is potential for the price to resume its upward movement and retest our target area.
💎 However, if #YGG fails to find support at the current level and breaks down below the support zone, the next likely destination is another support area. In such a scenario, it becomes crucial for #YGG to bounce from this level and reclaim the price above the demand zone to maintain its upward trajectory.
💎 Should #YGG fail to bounce and continue to decline, it may confirm a bearish trend, leading to further downward movement.
💎 If #YGG successfully bounces from the support area, there is potential for the price to resume its upward movement and retest our target area.
💎 However, if #YGG fails to find support at the current level and breaks down below the support zone, the next likely destination is another support area. In such a scenario, it becomes crucial for #YGG to bounce from this level and reclaim the price above the demand zone to maintain its upward trajectory.
💎 Should #YGG fail to bounce and continue to decline, it may confirm a bearish trend, leading to further downward movement.
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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.