$HIGH

📉 Market Structure Overview

Initial CHoCH shows trend shift from bearish to bullish.

BoS confirmed the bullish structure, followed by two strong impulse legs.

Price formed a rising wedge / symmetrical triangle and broke down, indicating near-term weakness or deeper retracement.

🔻 Current Price Action

Breakdown from ascending support trendline (green).

Forming a base around $0.620, but currently below the wedge apex ($0.658 resistance).

Previous demand zone below (~$0.580–$0.595) may be retested soon.

🔍 Key Demand & Supply Zones

🟥 Supply Zone (Resistance): $0.690–$0.710 (strong rejection seen).

🟩 Demand Zone (Support): $0.580–$0.595 — price could retrace into this area for a potential long setup.

Current level ($0.620) is a mid-structure support but weak due to momentum breakdown.

📊 RSI Analysis

RSI has recovered slightly (~53), from a brief oversold dip.

Momentum is neutral but lacks strong bullish divergence — suggesting caution on early entries.

🎯 Trade Setup Idea

Watch for bullish reaction in $0.580–$0.595 zone before entering.

Aggressive Entry: $0.620 (if reclaim of broken trendline happens with volume).

Stop Loss: Below $0.575.

Take Profit Targets:

TP1: $0.658 (broken structure retest).

TP2: $0.700 (supply zone).

⚠️ Summary

Currently in a pullback phase, but not yet confirmed for reversal.

Safer long entries lie closer to $0.590, not at current level.

Watch RSI and price reaction for confirmation before entering.