Reversal or Continuation? US30 Tests Major SupportThe US30 is testing a pivotal multi-year trendline following an aggressive breakdown from its early 2025 highs. After months of consistent distribution near the 42,000–44,000 range, price capitulated with a steep selloff, driving the index down toward the 37,000 level. This area aligns closely with the long-term trendline dating back to late 2023 and marks the lower boundary of the broader structural expansion.
The current reaction appears to be forming at a potential inflection point, as price hovers around the lower bounds of its macro range. The steep angle of descent suggests overextension, with momentum temporarily outpacing rational valuation zones. Meanwhile, a notable high-volume cluster from prior activity remains situated between 41,500 and 42,000 — an area likely to attract price in the event of a technical retracement.
If buyers begin stepping in at this historically respected trendline, the market could stage a multi-week recovery, targeting this upper resistance zone. However, failure to stabilize here risks further downside, potentially exposing the market to deeper corrections toward 35,000 or lower. All eyes now turn to this structural juncture as price teeters between oversold conditions and critical support.
