Massive volume surge of roughly 886M FIL traded in the past 3 weeks, marking the highest monthly participation since the 2021 cycle.
Current candle is a strong green expansion bar, breaking a long stretch of low-momentum consolidation.
Lack of upper wick suggests buyers remained in control for most of the month.
Price has reclaimed multiple months of tight-range compression, indicating shift from distribution, accumulation behavior.
MACD on the monthly timeframe is flattening and nearing a potential bullish cross after a prolonged downtrend.
RSI is lifting from oversold territory and trending upward, showing early signs of momentum recovery.
Despite the recent strength, price remains well below the 200 EMA, meaning the macro trend is still bearish but weakening.
Volume profile and candle structure together hint at a possible macro bottom formation.
Key support sits at $1.60.
First major resistance lies at $2.20–$2.40, followed by $3.00, where historical supply has reacted.
A monthly close above $2.50–$3.00 would confirm a long-term trend reversal.
As long as the current candle holds its gains into the monthly close, the chart leans toward accumulation strength and early reversal potential.
Current candle is a strong green expansion bar, breaking a long stretch of low-momentum consolidation.
Lack of upper wick suggests buyers remained in control for most of the month.
Price has reclaimed multiple months of tight-range compression, indicating shift from distribution, accumulation behavior.
MACD on the monthly timeframe is flattening and nearing a potential bullish cross after a prolonged downtrend.
RSI is lifting from oversold territory and trending upward, showing early signs of momentum recovery.
Despite the recent strength, price remains well below the 200 EMA, meaning the macro trend is still bearish but weakening.
Volume profile and candle structure together hint at a possible macro bottom formation.
Key support sits at $1.60.
First major resistance lies at $2.20–$2.40, followed by $3.00, where historical supply has reacted.
A monthly close above $2.50–$3.00 would confirm a long-term trend reversal.
As long as the current candle holds its gains into the monthly close, the chart leans toward accumulation strength and early reversal potential.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.