Potential price targets and expected time frame
• Target 1: 68,500
• Expected time frame: within (24 to 48 hours) if the momentary resistance is breached.
• Target 2: 71,200
• Expected time frame: within (3 to 7 days) if stability is maintained above 68,500.
• Strategic Target: 73,800 (the recent peak)
• Expected time frame: within (two weeks to a month) provided that strong daily supports are not broken.
Controversial scenarios
• Positive scenario: Breaking the 67,400 level and stabilizing above it with a complete daily candle opens the door for a qualitative leap towards 70,000 first and then targeting the peaks.
• Cautious scenario: The current volatility requires monitoring the main support areas at 66,240 (the lowest price in the last 24 hours) and the strongest support level on the daily at 64,500.
Buying and selling areas (based on price behavior)
• Buying areas (safe rebound zones): * First area: between 66,000 and 66,240 (quick speculative buy with a close stop loss).
• Second area: In case of a sharp decline, the 64,500 area is considered a strong demand area.
• Selling areas (profit-taking and reduction): * First area: 67,350 to 67,500 (strong immediate resistance).
• Second area: 68,500 (a psychological and historical resistance area on the daily timeframe).
A golden tip for traders
"Do not chase the price in the barren sideways path! The current volatility between 66,400 and 67,350 is a margin burner and a loss for leveraged speculators. Wait for the price to clearly exit this range, either by breaking resistance or support, to safely determine your direction. Strict capital management is your only salvation now."
What will happen in the coming days?
The currency is now in a "price pressure" or confusion phase. Historically, this boring sideways behavior after a decline is followed by violent price movement (price explosion). The coming days will witness an inevitable attempt to break the 67,400 area. If the buyer manages to take control, we will see a strong upward wave accelerating the pace to reach the mentioned targets. However, failure to maintain the 66,000 levels may lead us to revisit the sixty thousand areas again for retesting.
