Key Levels:
Immediate Resistance: Around 2,515 to 2,520, where the price is currently hovering. Multiple rejections have occurred in this area, making it crucial for determining the next move.
Next Resistance Above: If price breaks above 2,520, the next target could be around 2,530 to 2,540, as this is a key resistance zone where previous selling pressure occurred.
Support Levels:
2,495 – Recent support where price bounced, indicating buying interest.
2,480 to 2,485 – A more significant support zone, where price could retrace if there is a bearish rejection from the current resistance.
Bullish Scenario:
If the price breaks and holds above the 2,520 level, it would likely continue toward 2,530 to 2,540.
Look for a retest of the 2,515 level as support after the breakout for confirmation of bullish momentum.
Bearish Scenario:
If price fails to break above 2,515 and rejects strongly, the market may retrace to the 2,495 support zone.
A break below 2,495 could push the price further down to 2,485 or even toward the 2,460 zone, where deeper liquidity resides.
Conclusion:
Bullish Bias: The market has shown a series of higher lows, and the current test of resistance suggests bulls are in control. A break above 2,520 could signal further upside toward 2,530–2,540.
Bearish Risk: A failure to break resistance at 2,515 could lead to a pullback toward 2,495 or lower.
Immediate Resistance: Around 2,515 to 2,520, where the price is currently hovering. Multiple rejections have occurred in this area, making it crucial for determining the next move.
Next Resistance Above: If price breaks above 2,520, the next target could be around 2,530 to 2,540, as this is a key resistance zone where previous selling pressure occurred.
Support Levels:
2,495 – Recent support where price bounced, indicating buying interest.
2,480 to 2,485 – A more significant support zone, where price could retrace if there is a bearish rejection from the current resistance.
Bullish Scenario:
If the price breaks and holds above the 2,520 level, it would likely continue toward 2,530 to 2,540.
Look for a retest of the 2,515 level as support after the breakout for confirmation of bullish momentum.
Bearish Scenario:
If price fails to break above 2,515 and rejects strongly, the market may retrace to the 2,495 support zone.
A break below 2,495 could push the price further down to 2,485 or even toward the 2,460 zone, where deeper liquidity resides.
Conclusion:
Bullish Bias: The market has shown a series of higher lows, and the current test of resistance suggests bulls are in control. A break above 2,520 could signal further upside toward 2,530–2,540.
Bearish Risk: A failure to break resistance at 2,515 could lead to a pullback toward 2,495 or lower.
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.