The chart just printed a clean double top near $4.34, with back-to-back rejections signaling a potential short-term reversal.
If this pullback gains traction, here are the key support levels I’m watching:
S1: $3.93 – prior resistance turned support (breakout zone)
S2: $3.55 – strong pivot level from April consolidation
S3: $3.12–$3.15 – intermediate structure zone before the macro base
A break below $3.55 could open the door to a deeper retracement. Updated chart highlights all zones and confirms the double-top risk. Price needs to hold above S1 quickly or momentum could shift back to the downside. Stay tuned!
If this pullback gains traction, here are the key support levels I’m watching:
S1: $3.93 – prior resistance turned support (breakout zone)
S2: $3.55 – strong pivot level from April consolidation
S3: $3.12–$3.15 – intermediate structure zone before the macro base
A break below $3.55 could open the door to a deeper retracement. Updated chart highlights all zones and confirms the double-top risk. Price needs to hold above S1 quickly or momentum could shift back to the downside. Stay tuned!
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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.