Price is currently trading below both the EMA 100 and EMA 200, maintaining a bearish market structure. The highlighted supply zone continues to act as strong resistance, where sellers have repeatedly stepped in to reject higher prices. The recent recovery appears to be a corrective pullback rather than a confirmed trend reversal.
As long as price remains below this resistance area, the downside scenario stays valid. A rejection from the current zone could lead to a move toward the 4,150 support level, while further bearish momentum may extend the decline toward the 4,002 target. Traders should watch for price reaction around the supply zone, as it will likely determine the next major move. 📉🎯
As long as price remains below this resistance area, the downside scenario stays valid. A rejection from the current zone could lead to a move toward the 4,150 support level, while further bearish momentum may extend the decline toward the 4,002 target. Traders should watch for price reaction around the supply zone, as it will likely determine the next major move. 📉🎯
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