The market is currently testing a major historical support zone around 1800–1900 after forming a clear lower-high bearish structure over the past months.
Looking at the higher timeframe, price has been respecting several key levels where strong reactions previously occurred. This makes the current area a critical decision zone for the next major move.
🔑 Key Levels
Resistance Zones
• 2600 – 2700
• 3300 – 3400
• 4000 – 4200
• 4800 – 5000
Support Zones
• 1800 – 1900 (Current level)
• 1500 – 1600
• 1200 – 1300
📉 Bearish Scenario
If price breaks below the 1800 support, the next downside targets could be 1600 and potentially 1300.
📈 Bullish Scenario
If buyers defend this level, we may see a relief bounce toward 2600–2700 resistance.
⚠️ Always wait for confirmation and manage risk.
Looking at the higher timeframe, price has been respecting several key levels where strong reactions previously occurred. This makes the current area a critical decision zone for the next major move.
🔑 Key Levels
Resistance Zones
• 2600 – 2700
• 3300 – 3400
• 4000 – 4200
• 4800 – 5000
Support Zones
• 1800 – 1900 (Current level)
• 1500 – 1600
• 1200 – 1300
📉 Bearish Scenario
If price breaks below the 1800 support, the next downside targets could be 1600 and potentially 1300.
📈 Bullish Scenario
If buyers defend this level, we may see a relief bounce toward 2600–2700 resistance.
⚠️ Always wait for confirmation and manage risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.