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DLO: When payments become the new oilNASDAQ:DLO
dLocal builds the infrastructure through which global companies accept payments in more than 60 countries. While many debate competition in fintech, dLocal is simply becoming the payment gateway for Amazon, Uber, Spotify, and dozens of international corporations in emerging markets.
Fundamentals
The first quarter of 2026 confirmed that the business continues to scale.
Total payment volume (TPV) grew 73 percent to a record 14.1 billion dollars, while revenue increased 55 percent to 335.9 million dollars. Gross profit reached 118.7 million dollars with a margin of approximately 35 percent.
Net income excluding one-time tax effects grew 11 percent to 52 million dollars. Including the tax adjustment, the company earned 41.9 million dollars, with diluted earnings per share of 0.14 dollars.
Free cash flow declined to 15 million dollars solely due to temporary working capital impact. The balance sheet remains one of the strongest in the sector: 720 million dollars in cash with zero long-term debt.
Management maintained its TPV growth guidance of 50–60 percent for full-year 2026.
What's happening now?
In June, shares were added to the Russell 2000 and Russell 3000 indices, automatically triggering capital inflows from index ETFs.
The company continues its 300 million dollar buyback program, with approximately 120 million already deployed.
Following the earnings release, dLocal announced a partnership with Stable Sea, opening a new direction for cross-border corporate settlements through USD-pegged stablecoins. While the market debates whether stablecoins are needed in traditional business, the largest payment companies are already starting to profit from them.
Institutional capital
Institutional investors control 90.13 percent of the company's shares.
Over the last 12 months, net institutional inflow exceeded 91 million dollars. Director William Pruett purchased shares on the open market for nearly 237 thousand dollars, which looks significantly more convincing than any optimistic press release.
Short float stands at 9.39 percent, with Days to Cover at 6.8 days, creating potential for a strong short squeeze if the uptrend resumes.
UBS upgraded the stock to Buy with a 20 dollar price target.
With a market capitalization of approximately 4.5 billion dollars, the company trades at a P/S multiple of 3.6, which looks like a reasonable valuation for a business that continues to grow at double-digit rates.
Technicals
On the weekly chart, price broke upward from a descending flag and is now moving back toward the broken zone for a retest. The entry point is based on a strong convergence of factors. The current correction is heading toward the 0.382 Fibonacci retracement level, measured from the entire impulse move from 7.61 to 16.76. Buyers are expected to defend the historical weekly demand zone in the 12.16 to 12.58 range, where significant bounces have occurred multiple times in the past. The move is supported by elevated volumes, while the MA50 and MA200 are crossing upward right now, opening the door for long-term growth. The risk-to-reward ratio exceeds 1 to 6.5. A long entry would be valid upon confirmation of price reaction in the 12.20 to 12.60 range. The first profit target is the strong historical resistance at 19.67, with the final flag target around 21.50.
The market is currently focused on margin compression from working with the world's largest clients. But beneath that, it's easy to miss the main point: dLocal continues to grow payment volumes at record rates, maintains one of the strongest balance sheets in the sector with no debt, is attracting institutional capital, and remains a key infrastructure player in emerging markets.
Sometimes the most interesting stories aren't the ones shouting loudest about innovation, but the ones through which billions of dollars flow every single day. 
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Gold Forms Bullish Flag After Strong Weekly CloseGold ended the week with strong bullish momentum, and price action has now followed through by presenting another potential continuation setup for traders looking to stay aligned with the trend.
The current structure forming on the chart is a bullish flag pattern, which typically appears after an impulsive move higher followed by a period of controlled consolidation. In this case, that consolidation may be setting the stage for another potential breakout to the upside.
As always, however, the interpretation of this setup depends heavily on your trading philosophy.
For traders who prioritize structure and believe that support and resistance levels should be respected until proven otherwise, this is a zone that may warrant caution.
On the other hand, for traders who focus on momentum and the idea that “the trend is your friend,” this type of structure can represent opportunity.
Neither approach is inherently right or wrong. In trading, there is no universal truth that applies across all strategies. There is only what is right or wrong relative to your personal trading plan, your risk tolerance, and your methodology.
The key is not whether you trade the pattern, but whether your decision is consistent with a tested and defined approach.
Akil
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The Bull Flag Pattern: Why Volume Decides Whether It HoldsMost traders treat a bull flag as a shape: sharp rally, small pullback, buy the breakout. The shape is the easy part, and it is why so many flag trades fail. What separates a genuine pause from a top is volume, the one thing most chart guides leave out of the drawing.
The bull flag pattern is one of the few continuation setups with real evidence behind it, but that evidence depends on a condition the textbook diagram rarely shows: read the volume and you read whether the trend is resting or being handed to someone else.
What Is a Bull Flag Pattern?
A bull flag is a continuation pattern inside an uptrend, built from two parts. The pole is a steep, almost vertical impulse driven by aggressive buying. The flag is a brief, shallow consolidation that drifts sideways or slightly down. The structure goes back to Edwards and Magee's 1948 classic Technical Analysis of Stock Trends , which first organized continuation patterns into a system.
On a bull flag pattern chart, the pole stands nearly vertical and the flag tilts gently against it. The bull flag chart pattern works because of who acts in each phase: the pole is fresh demand, and the flag is short-term holders taking profit while the trend's core buyers hold. Because that selling is light profit-taking, not new supply, volume should fall through the flag and surge on the breakout.
This is the part the diagrams skip. If volume stays heavy or climbs while the flag forms, you are not watching a pause but distribution: larger holders unloading into the rally. Falling volume is the lie detector, and a flag without it is not a flag.
The anatomy of a bull flag: an impulsive pole, a shallow flag, and a breakout. Volume contracts through the flag and expands on the breakout.
Same shape, opposite meaning. Volume stays heavy: that is selling into the rally, and the breakout is far more likely to fail.
How to Trade a Bull Flag Pattern
Three checks decide whether a consolidation is a real flag.
Shallow pullback. The flag should retrace no more than about half the pole. A deeper pullback erases the impulse and points to a reversal, not a rest.
Falling volume. Volume must decline as the flag develops and expand on the breakout. Flat or rising volume is the distribution warning.
Brief duration. A flag is a short pause relative to its timeframe. One that drags on becomes a directionless trading range.
Entry: a close above the flag's upper boundary, ideally on a clear jump in volume that confirms real buyers are pushing price out.
Stop loss: below the flag low. A close back inside the pole voids the setup. One tick under the breakout candle is too tight and gets swept by noise.
Target: the pole's height projected up from the breakout (flags fly at half-mast). Treat it as a tendency, not a promise: only about half of flags actually reach the full projection, so take partials along the way.
A complete bull flag trade: entry on the volume-backed breakout, stop below the flag low, target one pole-length above, with risk-to-reward fixed before entry.
Bull Flag vs Bear Flag
The cleanest way to frame bull flag pattern vs bear flag is the trend they pause. A bull flag forms in an uptrend and slopes down against it; a bear flag forms in a downtrend and slopes up. The geometry mirrors, but the evidence does not: the studies that confirmed the long side found much weaker results for the bear flag, so treat the short side with more caution.
Bull Flag
Prior trend: uptrend
Flag slope: down or sideways, against the trend
Volume in flag: falling
Trade: long on a break above the flag
Bear Flag
Prior trend: downtrend
Flag slope: up or sideways, against the trend
Volume in flag: falling
Trade: short on a break below the flag
An XRP Bull Flag Pattern in Practice
A textbook XRP bull flag pattern appeared during the sharp late-2024 rally. Price ran almost vertically to form the pole, then paused in a tight, slightly downward channel for a few daily candles while volume thinned out. That contraction signalled profit-taking, not a reversal, and when price closed above the flag on a volume surge, the trend resumed. Had volume stayed elevated, the same shape would have been a reason to stand aside.
An XRP bull flag during the late-2024 advance: pole, a flag on fading volume, then a volume-backed breakout that continued the trend.
When the Bull Flag Works and When It Fails
The case for it. The bull flag is one of the rare patterns that has been tested directly rather than just asserted. A 2002 study ran a bull flag template across decades of New York Stock Exchange data and found its buy signals beat random selection. A 2007 study on the Nasdaq and Taiwan indices found that the closer price matched the flag shape, the higher the average return, beating a buy-every-day benchmark. A 2024 study of the Shanghai market reported bull flag buy signals working around 80 percent of the time. Three markets, three eras, the same direction of result.
The case against it. Drawing a flag is subjective, so two traders mark the same chart differently, and an edge that showed up on old data can fade as markets adapt. Worth noting: those studies tested price shape only and ignored volume entirely, which is exactly the filter this article argues you should add on top.
Market regime is decisive. A flag only continues a trend that exists. In a strong uptrend it has something to continue and the breakout has fuel; in a choppy market the same shape is noise that breaks both ways. A clean flag pressed against higher-timeframe resistance fails often. Read the trend before you trust the flag.
A bull flag pattern is not a shape to buy on sight but a test the market passes or fails. The geometry tells you where price paused; the volume tells you whether the pause is real. Demand a shallow pullback and volume that falls into the flag and surges on the break. A flag without falling volume is distribution waiting to disappoint. 
Education
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Ethereum to $800 - The Inevitable Breakdown - June 2026
SYMBOL: COINBASE:ETHUSD | DIRECTION: SHORT | TIMEFRAME: 2-Month
Published: June 2026
Ethereum is different. You’ve heard, presumably. Ultrasound money. EIP-1559. The merge. Proof of stake. Deflationary tokenomics. The base layer for the decentralised financial system. The flippening. Staking yields. The whole internet of value.
These arguments have been present and passionately delivered for approximately every single moment of ETH’s decline from $4,900 to the current price. They will still be present at $800. They were also present at the 2022 low of $880 and at the 2018 low of $80. The arguments do not change, but the price does.
Let us examine what the 2-month chart is actually saying, while the Telegram group is sharing rocket emojis.
On the above 2-month chart a bear flag has confirmed (see 6 and 9 week charts), a measured move of -80.86% targets $800, and RSI has broken below 47 for the first time in Ethereum’s listed history. A number of reasons now exist to expect significantly further downside. They include:
1) Bear flag confirmed. Bear flags are not complicated. Price makes a sharp leg down, consolidates in an upward-sloping channel that feels like a recovery (it is not a recovery), then breaks lower and travels the distance of the original leg. This one confirmed on June 9th.
The measured move projects a decline of 80.86% from the breakdown point, targeting $800. A target Ww forecast back in 2023 that is taking longer than the heat death of the universe to realise. It seems I forget people actually do believe Raoul Pal's real vision price predictions.
For context: ETH fell 82% in 2022. It fell 94% in 2018. This would be the third time the same percentage drawdown has occurred in the same asset with the same community explaining why it won’t. It is, genuinely, almost impressive.
2) RSI below 47 on the 2-month chart - a first in ETH’s history. In the entire listed history of Ethereum, RSI on the 2-month chart has never closed below 47. Not in 2018 when the asset fell 94%. Not during the COVID collapse of 2020. Not in the 2022 bear market. Every single time RSI approached this level, buyers appeared and momentum returned. It has now broken below it for the first time ever. When a floor that has held for the entire life of an asset finally gives way, the market is not sending a mixed message. It is sending the only message it has left.
3) Stochastic RSI at the floor. The Stochastic RSI is printing at its lowest reading on this timeframe. A technical bounce from here is entirely possible and should be expected, oversold is not the same as bottomed. But the underlying momentum of this asset, measured over the 2 month timeframe, is in a condition it has never been in before. Bounces within structural breakdowns are selling opportunities, not recoveries. The 2022 bear market produced several violent rallies of 40-60%. None of them changed the destination.
4) Confirmed Double top distribution . The pattern has been here before. The Engulfing channel printed green accumulation signals at the 2019 base and the 2020 recovery, both correctly identified the beginning of major rallies. At the 2025-2026 top, the same channel printed distribution: red against green, a failed push into the upper band, bearish engulfing signals at the high. Compare this structure to the 2021 top. They are, to an uncomfortable degree, identical. The market has shown you this before. It is showing you it again.
Targets
1st target: $1,000, a round number. Former base of the 2021–2022 cycle. The market will want to test it. Expect a reaction.
2nd target: $800 and below. The bear flag measured move. Annotated directly on the chart.
3rd target: $300-350 the golden ratio. Where hope becomes despair
What about the upside?
A confirmed 2-month close back above the bear flag’s upper boundary. .. approximately $3,500 cancels this idea entirely. If that happens, the pattern interpretation is wrong and the argument changes. Until then, the measured move stands. The burden of proof is not on the sellers here.
The crowd
The Ethereum community is a remarkable thing. Every bear market produces a freshly laundered set of reasons why the next one will be different. In 2018 it was the enterprise adoption narrative. In 2022 it was the merge. Now it is restaking, Layer 2 scaling, and BlackRock’s interest in tokenised assets. Each narrative is, genuinely, technically interesting. None of them has succeeded in preventing a pattern that has now repeated three times on the same timeframe, at approximately the same percentage drawdown, while the same community explains with great conviction why the price will not do what the price is doing. The gold medal for optimism in the face of a confirmed bear flag, a historic RSI breakdown, and a third 80% decline goes to ETH holders. Extraordinary people.
Is it possible ETH recovers from here, breaks all-time highs and becomes the reserve currency of the decentralised financial system? Of course it is. Anything is possible.
Is it probable, with a confirmed bear flag, the first ever break below RSI 47, a completed distribution top identical to 2021, and a measured move pointing at $800? Look left. Look at 2018. Look at 2022. Is this time different?
Ww
Type: Speculative short / educational | Timeframe: 6–18 months
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Disclaimer : This idea is for educational and informational purposes only. It is not financial advice. Trading cryptocurrencies involves extreme volatility and substantial risk of loss. Always do your own research and consult a qualified financial adviser before making any investment decisions. Past performance is not indicative of future results.
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