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.
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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 👇👇👇
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.