Sonic has broken down from the point of control, accelerating the recession speed towards a major struggle area. The price now reduces the price area, where a possible floor structure can decide its next MOT.
Summary
- The sonic is closed below the point of control, the value area confirms the continuation of the recession towards low.
- The current support region aligns with annual low and high-timmframe structure.
- The reversal requires a lower pattern and increasing volume to regain rapid mentor.
The recent candle below the control point (POC) has triggers the continuity of a string recession in the sonic (sonic) value, causing it to rapidly value. This area is clearly important as it aligns with a major high-timmframe support near it annually and near $ 0.26. Failure to reconstruct the price area: Revaluation in high and daily resistance now serves as the major signs of weakness in the market structure.
Major Technical Points:
- Confirmation of the breakdown of recession: The value closed below the POC and failed to recover the price area.
- Conflict on price area low: This level aligns with annual low and a major high-timframe support.
- Volume profile weakness: Low demand on high, after the decline in the price declines after the amount of recession.
Sonic’s disability in recovering the price area marked a clear change. After a unsuccessful boom, the price was unable to close above the major resistance level on a daily basis. Combined with a weak volume profile, this breakdown revealed the absence of constant purchase interest and indicated on a deep retracement, now confirmed that the price descends to major support.
The price of current motors presses into an area that holds many technical significance: the price low, annually, and $ 0.26 has a high-time support. This conference makes the level a potential point point for the next market MOT. However, at this stage there is a flow of recession.
To be a reversal for materiality, the sonic may need to eructly to sweep the low and create a bottom structure, such as dobe bottom or rapid deviation, before any durable roll can begin. The overall structure remains a recession until this happens, and the price can consolidate or demand low quality areas. What the current learns in the current and starts growing with column demand, a rotation back treatment to the point of control or even on all-time of a feasible landscape.
What is expected in the upcoming price action
Sonic is now testing the price area low, a major support area that can cause the next stage of value action. A lower pattern around the region can low up a reversed toll, while the count of the ongoing recession can make the couriv value through the supop and the current doctrand can exterior.
