1010 Since July 2022, price has remained range-bound between 16–22, indicating a prolonged consolidation phase.
📊 Long-Term Structure
On the weekly timeframe, the broader structure may be developing into a continuation pattern. However, the 21–23 zone remains the critical make-or-break area for bulls.
📊 Short-Term Structure
Zooming into the shorter-term price action, we can observe a potential bullish flag formation, with trendline resistance around 21.5.
🔑 Key Levels to Watch
- 16–22: Long-term consolidation range
- 21–23: Major resistance and decision zone
- 21.5: Short-term trendline breakout trigger
- 27 → 30 → 33: Potential upside targets after breakout confirmation
📈 Bullish Scenario
A decisive breakout above 21.5, followed by sustained trading above the 21–23 resistance zone, could confirm bullish momentum and open the path toward 27 → 30 → 33.
Until then, patience is key. The breakout needs confirmation before the next leg higher can be considered active.
🔥 Is this prolonged consolidation preparing the ground for a major bullish breakout?
Disclaimer: This analysis is for educational and informational purposes only and is not financial, investment, or trading advice. Technical targets are projections, not guarantees. Always conduct your own research (DYOR) and apply disciplined risk management.
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