CoreWave Inc. Technical Analysis and Mid-Term Outlook
CoreWave Inc. has reacted to a key confluence zone formed by horizontal support and an ascending trend line.
A bullish pin bar has also developed at this confluence area, as shown on the chart. This pattern is an important price-action signal and may indicate potential upward momentum.
My Technical Outlook:
I expect buying pressure at the current market price (CMP) to push above the next resistance zone aligned with the 23.6% Fibonacci retracement level. If price successfully breaks and sustains above this level, the asset may advance further toward the descending trend line highlighted on the chart.
This setup aligns with a mid-term to multi-month trade outlook, given the presence of three significant Fibonacci levels within this projected move.
Trade Potential: 16% – 60%
I am ridding of the CMP
As always, caution is advised when navigating market volatility and key reaction zones.
CoreWave Inc. has reacted to a key confluence zone formed by horizontal support and an ascending trend line.
A bullish pin bar has also developed at this confluence area, as shown on the chart. This pattern is an important price-action signal and may indicate potential upward momentum.
My Technical Outlook:
I expect buying pressure at the current market price (CMP) to push above the next resistance zone aligned with the 23.6% Fibonacci retracement level. If price successfully breaks and sustains above this level, the asset may advance further toward the descending trend line highlighted on the chart.
This setup aligns with a mid-term to multi-month trade outlook, given the presence of three significant Fibonacci levels within this projected move.
Trade Potential: 16% – 60%
I am ridding of the CMP
As always, caution is advised when navigating market volatility and key reaction zones.
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