$SPELL Building a Reversal Base – Eyes on Breakout
$SPELL is currently retesting a local support zone at 0.0004480 after a failed breakout. Price action suggests a potential bullish bounce if buyers hold this zone.
LONG Setup:
• Entry: 0.0004505
• TP1: 0.0004580
• TP2: 0.0004620
• TP3: 0.0004640
• SL: 0.0004420
Market Insight:
The structure hints at a possible double-bottom formation. A bounce from this support could trigger a bullish continuation toward previous highs. Watch for a strong reaction from the 0.0004480 zone.