Initial Pump:
Price launched rapidly after listing, forming a local high.
Sideways Phase:
Market settled into a sideways consolidation, typical after the first pump.
Retrace:
A retrace toward the 0.5 Fibonacci zone (~$181.50) is developing. Typical retracement in similar "crypto stonks" ranges from 60-80%.
Accumulation in Demand Zone:
Multiple support levels are stacked between $180–$140, indicating a strong demand zone for accumulation.
True Move Potential:
If the support holds, a new bullish leg could start, targeting Fibonacci extensions ($299, $362, $444). If the support is lost, the next levels are $143 and $100.
This scenario is based on the repeating behavioral fractal seen in high-profile crypto listings: explosive initial move, multi-week consolidation, and a deep retracement before the real trend emerges. Current price is entering the key demand area, which aligns with previous market structure seen on token launches. The risk/reward for new longs becomes attractive here if buyers defend the zone. However, invalidation is clear if price breaks below $140.
Price launched rapidly after listing, forming a local high.
Sideways Phase:
Market settled into a sideways consolidation, typical after the first pump.
Retrace:
A retrace toward the 0.5 Fibonacci zone (~$181.50) is developing. Typical retracement in similar "crypto stonks" ranges from 60-80%.
Accumulation in Demand Zone:
Multiple support levels are stacked between $180–$140, indicating a strong demand zone for accumulation.
True Move Potential:
If the support holds, a new bullish leg could start, targeting Fibonacci extensions ($299, $362, $444). If the support is lost, the next levels are $143 and $100.
This scenario is based on the repeating behavioral fractal seen in high-profile crypto listings: explosive initial move, multi-week consolidation, and a deep retracement before the real trend emerges. Current price is entering the key demand area, which aligns with previous market structure seen on token launches. The risk/reward for new longs becomes attractive here if buyers defend the zone. However, invalidation is clear if price breaks below $140.
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.