The $SOXL coin is currently moving in a strong downward direction after a sharp drop from the 151.65 peak down to the 115.64 bottom, with trading currently near 116.73, while selling pressure still controls the move despite limited rebound attempts.
👈The price is trading below all moving averages, where MA7 is at 120.66, MA25 at 138.21, and MA99 at 143.59, confirming the continuation of the negative trend in the short term, along with high trading volumes reflecting the strength of the recent sell wave.
👈Holding above the 115.60 – 116.00 zone may support a technical rebound toward 120.70 then 125.00. If 125.00 is broken with a strong close alongside rising trading volumes, the upside move could extend toward 130.00 – 138.20. However, breaking the 115.60 level may lead to the completion of the downtrend and target lower levels before stronger reversal signals appear.$SOXL
👈The price is trading below all moving averages, where MA7 is at 120.66, MA25 at 138.21, and MA99 at 143.59, confirming the continuation of the negative trend in the short term, along with high trading volumes reflecting the strength of the recent sell wave.
👈Holding above the 115.60 – 116.00 zone may support a technical rebound toward 120.70 then 125.00. If 125.00 is broken with a strong close alongside rising trading volumes, the upside move could extend toward 130.00 – 138.20. However, breaking the 115.60 level may lead to the completion of the downtrend and target lower levels before stronger reversal signals appear.$SOXL