$SOXL
Price action on $SOXL$ has shifted decisively lower after a series of lower highs from the $160 zone. The recent long liquidation cluster around $119.07 flushed remaining leverage and confirmed seller control. Structure remains in a clear downtrend across the 4-hour and daily timeframes, with price trading below key moving averages and momentum indicators sitting in the weak zone. Liquidity now sits below the current range while overhead supply from prior breakdown levels continues to cap any rebound attempts.
EP $120.80
TP $117.50
TP $114.20
TP $110.00
SL $124.50
Trend strength is firmly bearish with consecutive lower lows and expanding downside volume. Momentum and structure bias favor continuation lower as open interest remains elevated on the long side while funding stays positive, keeping residual long positions under pressure. Price is likely to work toward the listed targets because the liquidation event has removed near-term support and the next demand zones sit at those exact levels with limited buying interest visible in between.
$SOXL
Price action on $SOXL$ has shifted decisively lower after a series of lower highs from the $160 zone. The recent long liquidation cluster around $119.07 flushed remaining leverage and confirmed seller control. Structure remains in a clear downtrend across the 4-hour and daily timeframes, with price trading below key moving averages and momentum indicators sitting in the weak zone. Liquidity now sits below the current range while overhead supply from prior breakdown levels continues to cap any rebound attempts.
EP $120.80
TP $117.50
TP $114.20
TP $110.00
SL $124.50
Trend strength is firmly bearish with consecutive lower lows and expanding downside volume. Momentum and structure bias favor continuation lower as open interest remains elevated on the long side while funding stays positive, keeping residual long positions under pressure. Price is likely to work toward the listed targets because the liquidation event has removed near-term support and the next demand zones sit at those exact levels with limited buying interest visible in between.
$SOXL