📈 Coin $MUBARAK testing the green support zone for an upward corrective bounce
• Technical trend: An upward bounce from a key support level
• Watch zone: 0.01540 – 0.01560 (the green-shaded support area)
🎯 Bounce price targets:
• TARGET 1: 0.01583
• TARGET 2: 0.01602
• TARGET 3: 0.01623
❌ Scenario invalidation level: A one-hour candle close below 0.01530 (breaking the green support range and continuing the decline)
💡 Technical rationale: The price reached the historic support area shaded in green, where strong prior bounces occurred. Although the technical panel currently shows bearish signals (Zone Bearish, Momentum Falling ↓, Regime Bear Trend, Bias Strong Bear 57%) as a result of the recent selling pressure, basing on this key support provides an opportunity for an upward corrective bounce.
• Technical trend: An upward bounce from a key support level
• Watch zone: 0.01540 – 0.01560 (the green-shaded support area)
🎯 Bounce price targets:
• TARGET 1: 0.01583
• TARGET 2: 0.01602
• TARGET 3: 0.01623
❌ Scenario invalidation level: A one-hour candle close below 0.01530 (breaking the green support range and continuing the decline)
💡 Technical rationale: The price reached the historic support area shaded in green, where strong prior bounces occurred. Although the technical panel currently shows bearish signals (Zone Bearish, Momentum Falling ↓, Regime Bear Trend, Bias Strong Bear 57%) as a result of the recent selling pressure, basing on this key support provides an opportunity for an upward corrective bounce.