Reversal or More Downside?
Current Price: $17.67 (-7.32%)
Key Levels:
Support: $17.24 – Holding as the local bottom.
Resistance: $17.80 – Needs a breakout for upside momentum.
Potential Trade Setup:
🔹 Bullish Scenario (Long Entry):
Entry Zone: $17.30 - $17.50 (On pullback)
Take Profit Targets:
TP1: $17.80
TP2: $18.00
TP3: $18.30
Stop Loss: Below $17.10
🔻 Bearish Scenario (Short Entry):
Entry Zone: $17.80 - $18.00 (If rejected at resistance)
Take Profit Targets:
TP1: $17.50
TP2: $17.30
TP3: $17.00
Stop Loss: Above $18.10
Market Insight:
Price is consolidating after a sharp drop. A breakout above EMA 25 could trigger recovery; otherwise, further downside is possible.
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