GPS has been trending lower for months, but the chart now shows a possible bottoming pattern forming around the 0.007 support zone. Price is currently sitting right near historical lows, where buyers have stepped in before. This area could act as a strong accumulation zone if bulls decide to defend it again.
Volume has been relatively muted compared to its 30-day average, suggesting that selling pressure might be drying up. A small uptick in demand here could easily trigger a sharp rebound, especially in low-liquidity environments like this. The broader structure looks like it’s setting up for a potential mean reversion play — the type that often catches shorts off guard.
As long as GPS holds above the recent low, there’s a fair chance it could grind higher from here. A clean break above short-term resistance would confirm that momentum is shifting.
Let’s see if buyers can protect this zone and start building a base.
Follow for more crypto setups and reversal patterns.
DONT FORGET TO CHECK OUT MY PROFILE 👇👇👇
Volume has been relatively muted compared to its 30-day average, suggesting that selling pressure might be drying up. A small uptick in demand here could easily trigger a sharp rebound, especially in low-liquidity environments like this. The broader structure looks like it’s setting up for a potential mean reversion play — the type that often catches shorts off guard.
As long as GPS holds above the recent low, there’s a fair chance it could grind higher from here. A clean break above short-term resistance would confirm that momentum is shifting.
Let’s see if buyers can protect this zone and start building a base.
Follow for more crypto setups and reversal patterns.
DONT FORGET TO CHECK OUT MY PROFILE 👇👇👇
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.