Key Structural Levels
Major Support Zone (Green Band): Located roughly between the 3,775.515 and 3,950 levels. This represents a historical high-timeframe (HTF) demand zone where buyers have previously stepped in.
SBR Zone (Support Become Resistance – Red Band): Positioned near 4,411.002. This serves as a key overhead barrier that price must clear to reverse the medium-term bearish structure.
Immediate Resistance: A horizontal level marked at 4,091.882, which aligns closely with the upper boundary of the descending channel.
Projected Price Scenarios
The chart highlights two potential pathways for the asset as it interacts with the lower major support zone around late June / early July:
1. The Bullish Rebound (Primary Forecast Lines)
The Setup: The analysis notes a “huge opportunity that price may pull back after this support zone of 3950 to 3800.” Alternatively, it notes it could fly straight from the current price, as the 3960 level aligns closely with HTF support.
The Path: Purple and blue arrows illustrate a potential double-bottom or accumulation pattern within the green support zone.
The Target: A strong bounce off this floor is projected to break out of the descending trendline, targeting a retest of the 4,091.882 level and potentially driving up toward the SBR Zone at 4,411.002.
2. The Bearish Breakout & Retest (Alternative Scenario)
The Setup: A note at the bottom warns: “If there is breakout so it may retest this descending channel trendline because of that bearish trend.”
The Path: If the green support zone fails to hold, a downside breakdown is expected. This would likely cause the price to drop further toward the lower channel parallel (near the 3,400–3,600 region) before attempting any structural retest of the broken trendline.