$PORTO /USDT – 15m Chart Read
PORTO sold off into the 1.011 area, where buyers stepped in and defended the zone with a clear wick-and-reclaim. That reaction establishes 1.01–1.012 as a key intraday support, showing sell-side momentum exhaustion after the sharp breakdown.
Price has since bounced and is now consolidating around 1.016–1.020, grinding sideways just below short-term moving averages. Momentum has slowed after the impulsive drop, and volume expansion on the bounce suggests demand absorbed the sell pressure, with late sellers getting trapped under the base.
Overhead, resistance is stacked at 1.025–1.028, followed by a heavier zone near 1.040–1.045, where the descending MA(99) and prior rejection cap upside. A reclaim through these levels would signal momentum expansion and shift the structure toward a short-term recovery attempt.
Bias remains bearish-to-neutral while price trades below 1.028, keeping the broader structure heavy. Caution level is 1.011 — losing that support would weaken the base and favor downside continuation. For now, the tape favors consolidation with a mild continuation bias, as buyers continue to defend support and downside pressure fades.
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