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.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.