📊 Timeframe: weekly
📈 Current price: $10.84
📉 A breakout of the wedge is expected — the asset is at the lower boundary.
🔍 Technical picture:
🔻 Downtrend in a narrow wedge, price at the lower boundary — a base is forming.
🟢 Support: $8.13 (lower boundary of the channel), $9.30 (MA7).
🔴 Resistance: $11.85 (MA25), $13.62 (boundary of the Ichimoku cloud), key level — $23.81 (MA99).
📉 The Ichimoku cloud ahead is in the red zone — the trend is currently under pressure.
🌀 Bollinger Bands are compressed — a strong breakout is possible.
🟣 Parabolic SAR begins to reverse — a potential long signal.
⚠️ Risks:
⛔️ A very dense resistance cloud ($13.6–23.6) — the path upwards is thorny.
🕳 A downward breakout of the wedge will cancel the setup, especially if the price falls below $8.
🎯 Potential profile:
🎯 Target 1: $13.62 — upper boundary of the cloud.
🎯 Target 2: $19.1 — Kijun & middle of the cloud.
🎯 Target 3: $23.81 — MA99 and a strong resistance level.
📌 Stop: below $8
🛡 Support: $8.13 – key level for position protection.
✅ Conclusion:
📍 The SSV asset is forming a base at the bottom of the descending wedge.
⚡️ A breakout upwards will give an impulse with a growth potential of x2–x3.
🎯 Suitable for speculative long with a short stop.