alibabaondo

$BABAon is showing a significant corrective markdown phase on the 4-hour chart following a major rejection at higher levels. After topping out near the $134.06 peak, aggressive distribution drove the price down through multiple local support areas. The asset is currently searching for a solid floor, hovering just above a critical pivot support line around $119.18.
The immediate support base is locked in at $119.18, and defending this level is essential for buyers to halt the bleeding and begin building an accumulation base. On the overhead side, the first major hurdle for a potential counter-trend relief rally sits at the $126.27 resistance zone. Reclaiming that area is necessary to shift the short-term momentum and open the doors for a move back toward the key $130.73 level.

Target 1: $125.50
Target 2: $129.80
Target 3: $134.00
#BABAon #AlibabaOndo #CryptoAnalysis