Key levels: Support $15.40 (intraday) and $14.80 (base); resistance $17.20 (supply) and $18.50 (monthly high). Price compresses below overhead supply.

Buy setup: Accumulate near $15.40 if volume stabilizes; add on reclaim of $16.50 with rising maker flow.

Sell setup: Trim into $17.20 rejection; exit partials above $18.50 if momentum fails to extend.

Technical Structure & Levels

Spot price at $16.15 reflects sustained selling pressure, with primary support at $15.40 and deeper base at $14.80.

Resistance clusters at $17.20 (recent supply) and $18.50 (monthly high); 1h chart shows lower-high compression.

Breakout above $17.20 requires volume >$800k to confirm trend reversal; otherwise, range-bound action persists between $15.40–$17.20.

Trading Opportunities

Short-term: Fade rallies near $17.20 resistance unless volume confirms breakout; buy dips at $15.40 support.

Mid-term: Monitor for reclaim of $16.50 pivot; sustained hold above this level could target $18.50 monthly high.

Long-term: Wait for definitive breakout above $17.20 with institutional volume before committing larger capital.