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#Portal Technical Analysis
On the 1-hour timeframe, PORTAL appears to be completing its correction phase following the previous bullish trend.
Price is currently moving inside a descending channel and has reached the 70% Fibonacci retracement zone, which could mark the completion of Elliott Wave 5. This area is a key level to watch for a potential trend reversal.
📈 Trading Plan:
• Wait for a confirmed breakout above the channel resistance.
• After the breakout, flip the Fibonacci tool (0% at the bottom, 100% at the top) to project the next bullish move.
• Based on Fibonacci extension targets, the price could advance toward the 50% green Fibonacci level.
If this scenario plays out, PORTAL could deliver approximately +100% upside from the expected Wave 5 bottom.
⚠️ As always, wait for confirmation before entering a position and manage risk accordingly.
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