๐ $LINEA is showing a potential technical setup!
The weekly chart displays a strong recovery bounce forming off the 0 level support zone following a prolonged corrective phase.
๐ The Technical Setup:
โข The Pattern: Range accumulation and bounce from Fibonacci level 0
โข Short-term Target: 0.003110
โข Macro Objective: 0.003759
โข Market Structure: reversal
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: 0.002060 - 0.002213
โข Resistance: 0.003110
โข Breakout Level: 0.002944
โข Stop Loss / Invalidation: 0.002060
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Bullish recovery candles forming off the base
โข Trend: Attempting a macro trend reversal following a prolonged downtrend
โ ๏ธ Invalidation:
A weekly candle close below the 0 level at 0.002060 invalidates the current recovery setup.
Price is attempting a recovery bounce after finding a floor near the macro range lows.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
#Linea #crypto #BinanceSquare #Binance #TechnicalAnalysis
The weekly chart displays a strong recovery bounce forming off the 0 level support zone following a prolonged corrective phase.
๐ The Technical Setup:
โข The Pattern: Range accumulation and bounce from Fibonacci level 0
โข Short-term Target: 0.003110
โข Macro Objective: 0.003759
โข Market Structure: reversal
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: 0.002060 - 0.002213
โข Resistance: 0.003110
โข Breakout Level: 0.002944
โข Stop Loss / Invalidation: 0.002060
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Bullish recovery candles forming off the base
โข Trend: Attempting a macro trend reversal following a prolonged downtrend
โ ๏ธ Invalidation:
A weekly candle close below the 0 level at 0.002060 invalidates the current recovery setup.
Price is attempting a recovery bounce after finding a floor near the macro range lows.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
#Linea #crypto #BinanceSquare #Binance #TechnicalAnalysis