Dips towards demand zones on weekly and daily timeframes present low-risk long opportunities, with targets at subsequent Fibonacci extension levels. Upside appears to be the path of least resistance based on the various timeframes analyzed.
Weekly Timeframe
- OP is in an overall uptrend on the weekly time frame, with higher highs and higher lows formed.
- Key support levels are at $3.229, $2.200, and $1.201.
- Demand zone 1 between $1.816-1.630 is a potential buy zone.
- Bullish fair value gap 1 between $1.816-1.910 could fuel further upside once filled.
Support and Resistance Levels
Support Zone 1 | 3.229 |
Support Zone 2 | 2.200 |
Support Zone 3 | 1.201 |
Fibonacci Retracement Levels
0.382 | 3.027 |
0.50 | 2.667 |
0.618 | 2.307 |
0.786 | 1.802 |
0.882 | 1.511 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 1.816 | 1.630 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG 1 | 1.816 | 1.910 |
Daily Timeframe
- Price is consolidating above support zone 1 at $2.833 on the daily chart.
- Demand zones between $2.555-2.489 and $2.275-2.081 are potential buy areas.
- Bullish fair value gaps between $2.555-2.905 and $2.278-2.491 yet to be filled, indicating further upside.
Support and Resistance Levels
Support Zone 1 | 2.833 |
Support Zone 2 | 1.809 |
Fibonacci Retracement Levels
0.382 | 3.312 |
0.50 | 3.044 |
0.618 | 2.776 |
0.786 | 2.616 |
0.882 | 2.176 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 2.555 | 2.489 |
Demand Zone 2 | 2.275 | 2.081 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG 1 | 2.555 | 2.905 |
Bullish FVG 2 | 2.278 | 2.491 |
4 Hour Timeframe
- OP is ranging between support at $3.418 and resistance at $3.911 on the 4HR chart.
- Demand zone 1 between $3.240-3.093 provides an optimal low-risk entry.
- Bullish fair value gap from $3.240-3.500 adds credibility to the emerging upward move.
Support and Resistance Levels
Support Zone 1 | 3.418 |
Resistance Zone 1 | 3.911 |
Fibonacci Retracement Levels
0.382 | 3.715 |
0.50 | 3.594 |
0.618 | 3.477 |
0.786 | 3.309 |
0.882 | 3.210 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 3.240 | 3.093 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG 1 | 3.240 | 3.500 |
1 Hour Timeframe
- Price is stabilizing above support zone 1 at $3.446, with bullish divergence on hourly RSI.
- A bounce from this level could target $3.800 or higher Fib retracement levels.
Support and Resistance Levels
Support Zone 1 | 3.446 |
Fibonacci Retracement Levels
0.382 | 3.729 |
0.50 | 3.800 |
0.618 | 3.871 |
0.786 | 3.972 |
0.882 | 4.030 |