$BABA
#BABAUSDT is trading near the 119.70 region after dropping from a recent local high around 132.00. The daily chart shows a V-shaped recovery off its 90.00 macro bottom, followed by a pullback that is currently testing previous breakout structure for support.
The nearest support sits around 110.00–115.00, which marks a key pivot area from previous price action. If sellers push price below 110.00, the next major downside demand floor to watch is near 100.00. Overall, the market structure reflects a retracement within a larger attempt to establish a higher low.
Traders should watch whether price can hold above the 115.00 support floor and build momentum to retest the 128.00–132.00 resistance area. Rejection at 128.00 could keep price bound within a horizontal channel between 110.00 and 128.00. On the upside, a clean close above 132.00 would be required to open room toward the 140.00 and 150.00 supply zones.
#BABAUSDT is trading near the 119.70 region after dropping from a recent local high around 132.00. The daily chart shows a V-shaped recovery off its 90.00 macro bottom, followed by a pullback that is currently testing previous breakout structure for support.
The nearest support sits around 110.00–115.00, which marks a key pivot area from previous price action. If sellers push price below 110.00, the next major downside demand floor to watch is near 100.00. Overall, the market structure reflects a retracement within a larger attempt to establish a higher low.
Traders should watch whether price can hold above the 115.00 support floor and build momentum to retest the 128.00–132.00 resistance area. Rejection at 128.00 could keep price bound within a horizontal channel between 110.00 and 128.00. On the upside, a clean close above 132.00 would be required to open room toward the 140.00 and 150.00 supply zones.