$FXS is trading around 0.667, showing a strong rebound of roughly +8% from the recent swing low. Intraday action has printed a high near 0.672 and a low around 0.620, highlighting aggressive dip-buying pressure.
Market Reasoning
The move is driven by a clean bounce from the 0.615–0.620 demand zone, followed by a successful reclaim of the prior breakout level. Volume expanded on the recovery leg, suggesting real demand rather than a weak bounce. Price is now consolidating above structure, signaling continuation strength rather than exhaustion.
Key Levels
Support: 0.650 → 0.620 (major demand base)
Resistance: 0.680 → 0.700 → 0.725
Trend Outlook
Bullish (short-term) — Higher lows are forming on the 1H timeframe, and price acceptance above the breakout keeps momentum tilted upward.
Trade Idea (If / Then)
If price holds above 0.650 and continues to respect the breakout structure, then continuation toward 0.680, 0.700, and 0.725 is likely.
If price loses 0.620 on a closing basis, then the bullish setup is invalidated and downside risk increases.
Plan Snapshot
Entry Zone: 0.650 – 0.667
Targets: 0.680 → 0.700 → 0.725
Stop-Loss: 0.620
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