O Description
Resistance Zones (Red Boxes):
Several red box resistance areas are marked, indicating price levels where selling pressure has historically emerged.
The most active resistance is around $2,927 - $2,932.
The price is currently testing a lower resistance zone around $2,914 - $2,918.
Support Zones (Red Box Support):
There is a strong support level around $2,902.
The price has bounced multiple times from lower supports, showing buying strength.
Price Action & Projection:
The price is fluctuating within the $2,910 - $2,918 range.
A bullish bounce is anticipated if price respects the $2,910 support, leading to another test of the $2,918 resistance.
A breakdown below $2,910 could push price towards the next support near $2,902.
Possible Trading Scenarios:
📈 Bullish Scenario:
If price holds above $2,910, a push toward $2,918 and possibly $2,927 is likely.
Breakout above $2,927 could open doors for $2,932+.
📉 Bearish Scenario:
If price fails to hold $2,910, a drop to $2,902 support could occur.
A breakdown below $2,902 may trigger further downside momentum.
This analysis suggests traders should watch key resistance at $2,918 and support at $2,910 for potential breakouts or reversals. 🚀📉