Compression before the impulse
The price is decreasing steadily and forming a symmetrical triangle in the range of 9.0–9.2. Volatility is falling (Bollinger Bands narrowing), indicating preparation for movement. The price remains below the Ichimoku Cloud — the overall trend is bearish, but pressure is weakening. Moving averages (Exponential Moving Average) are above, but the distance is decreasing. Parabolic SAR gives early signals of reversal.
Levels: 9.3 — resistance and trigger for acceleration to 11–12. 8.9 — support; a loss opens the way lower.
Insight from the analyst: the structure indicates a phase of accumulation with a likely breakout on increased volatility. $LINK
The price is decreasing steadily and forming a symmetrical triangle in the range of 9.0–9.2. Volatility is falling (Bollinger Bands narrowing), indicating preparation for movement. The price remains below the Ichimoku Cloud — the overall trend is bearish, but pressure is weakening. Moving averages (Exponential Moving Average) are above, but the distance is decreasing. Parabolic SAR gives early signals of reversal.
Levels: 9.3 — resistance and trigger for acceleration to 11–12. 8.9 — support; a loss opens the way lower.
Insight from the analyst: the structure indicates a phase of accumulation with a likely breakout on increased volatility. $LINK