Price just had a massive impulsive move up, printing higher highs and holding above key EMAs. Now we’re seeing a healthy correction after that vertical push — this looks like a standard cooldown, not a bearish shift yet.
What’s happening now:
Price has tapped into a strong demand/support zone: $0.3650 – $0.3353
This zone aligns with previous consolidation and the 0.618 Fibonacci level, giving strong confluence
Initial bounce reaction shows buyers are active in this area
Trade Setup:
Entry: Around $0.3649 (zone retest)
Stop Loss: $0.2649 (below structure, invalidation level)
Targets:
TP1: $0.7613 — first key resistance and profit-taking zone
TP2: $1.7649 — extended target if bullish momentum continues
Structure Insight:
Market structure remains bullish unless this demand zone breaks
This is a classic buy-the-dip setup within an uptrend
Holding this zone increases probability of continuation
Breakdown below the zone opens risk of trend reversal
Summary:
Strong trend combined with a clean pullback into demand creates a high-probability bounce setup. This is typically where buyers look to re-enter.