FROM $300 TO $50 !!! 💥
$SOXL has gone through an absolutely massive crash after reaching its high around $300. From $300 to nearly $50, that's approximately an 83.3% decline — a brutal drop for any asset. After the recent market crash, price finally found a temporary pause, but don't mistake this small recovery for a confirmed trend reversal. There is still plenty of liquidity sitting below the current price, and SOXL could continue moving lower to collect it.
In my view, the current bounce could simply be a temporary relief rally or even a fake pump before another leg down. Looking at the higher timeframes, the overall structure is still extremely weak, and I wouldn't be surprised to see $SOXL testing the $15 area if selling pressure continues.
A small green bounce doesn't erase a massive bearish structure. Keep an eye on the downside because this crash might not be finished yet.
$SOXL has gone through an absolutely massive crash after reaching its high around $300. From $300 to nearly $50, that's approximately an 83.3% decline — a brutal drop for any asset. After the recent market crash, price finally found a temporary pause, but don't mistake this small recovery for a confirmed trend reversal. There is still plenty of liquidity sitting below the current price, and SOXL could continue moving lower to collect it.
In my view, the current bounce could simply be a temporary relief rally or even a fake pump before another leg down. Looking at the higher timeframes, the overall structure is still extremely weak, and I wouldn't be surprised to see $SOXL testing the $15 area if selling pressure continues.
A small green bounce doesn't erase a massive bearish structure. Keep an eye on the downside because this crash might not be finished yet.
