🚀 $SYRUP is showing a potential technical setup!
The asset is showing a bullish recovery on the weekly timeframe, finding support at the Fibonacci 0.618 level and pushing past the diagonal trendline.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement and Trendline Support
• Short-term Target: 0.277
• Macro Objective: 0.362
• Market Structure: Reversal from local support zone
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.212 - 0.223
• Resistance: 0.277
• Breakout Level: 0.257
• Stop Loss / Invalidation: 0.195
📊 Confirmation:
• Volume: Increasing bullish volume observed in recent weekly candles
• Momentum: Price finding support at the 0.618 level
• Trend: Trend reversal attempted after clearing a descending trendline
⚠️ Invalidation:
Closing below the 0.195 support level confirms a breakdown of the current recovery attempt.
SYRUP is showing signs of a potential bottoming process with a move toward recent resistance levels.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#Syrup #crypto #BinanceSquare #Binance #bitcoin
The asset is showing a bullish recovery on the weekly timeframe, finding support at the Fibonacci 0.618 level and pushing past the diagonal trendline.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement and Trendline Support
• Short-term Target: 0.277
• Macro Objective: 0.362
• Market Structure: Reversal from local support zone
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.212 - 0.223
• Resistance: 0.277
• Breakout Level: 0.257
• Stop Loss / Invalidation: 0.195
📊 Confirmation:
• Volume: Increasing bullish volume observed in recent weekly candles
• Momentum: Price finding support at the 0.618 level
• Trend: Trend reversal attempted after clearing a descending trendline
⚠️ Invalidation:
Closing below the 0.195 support level confirms a breakdown of the current recovery attempt.
SYRUP is showing signs of a potential bottoming process with a move toward recent resistance levels.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#Syrup #crypto #BinanceSquare #Binance #bitcoin
