The expected breakout came yesterday, just as I pointed out. $MORPHO We’re now above a strong resistance level, which is an important development.
From here, there’s a possibility of testing the upper channel line.
The 2.80–2.90 area is especially important. A daily close above this zone could open the door for further upside and a test of the upper channel.
That said, a retest of the breakout level as support would also be completely normal. I’ll be watching the 2.50–2.60 zone closely for that.
As long as MORPHO holds above this area, the current structure remains constructive. Below that, 2.30 and 2.00 become the key support zones to watch.
For now, the price structure continues to favor the upside.
From here, there’s a possibility of testing the upper channel line.
The 2.80–2.90 area is especially important. A daily close above this zone could open the door for further upside and a test of the upper channel.
That said, a retest of the breakout level as support would also be completely normal. I’ll be watching the 2.50–2.60 zone closely for that.
As long as MORPHO holds above this area, the current structure remains constructive. Below that, 2.30 and 2.00 become the key support zones to watch.
For now, the price structure continues to favor the upside.
