PROPC - PROPCHAIN Daily Chart

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๐Ÿง  Market Structure
๐Ÿ“‰ Macro Downtrend since December 2024โ€™s all-time high near $2.00.

โœ… Recent structure shift: Multiple Change of Character (CHoCH) events from March to May suggest a potential accumulation phase.

๐ŸŸข Higher lows forming post-March suggest bullish interest returning, though not fully confirmed yet.

๐ŸŸฅ Multiple equal highs (EQH) near $0.80 โ€“ $0.85 indicate a liquidity cluster, potential future breakout target.

๐Ÿ” Key Support & Resistance Zones
๐Ÿ”ด Resistance $0.75 โ€“ $0.85 Strong rejection area (EQHs stacked)
๐Ÿ”ด Major Supply $1.00 โ€“ $1.20 Historical distribution zone
๐ŸŸฆ Local Support $0.50 โ€“ $0.56 Holding support โ€“ bulls must defend
๐Ÿ”ต Major Demand $0.42 (Weak Low) Final support before major downside risk

๐Ÿ“‰ Momentum Indicators
Stochastic RSI: Just exited overbought, currently crossing downward.

๐Ÿ”ป Could suggest short-term retracement.

Volume: Declining slightly during the recent price rise โ€” not ideal, shows weak conviction.
RSI (inferred): Neutral zone, but divergence building up from Marchโ€“May.

๐Ÿ” Scenario Forecasts
โœ… Bullish Outlook:
If $0.50โ€“$0.56 holds โ†’ likely retest of $0.75โ€“$0.85 (EQH liquidity).

Break above $0.85 would be significant โ†’ opens path to $1+ zone.
Structural CHoCH + BOS suggests possible reaccumulation phase.

โŒ Bearish Outlook:
Breakdown below $0.50 could trigger sharp drop to $0.42 or lower.

Watch for CHoCH to downside and declining volume confirmation.

๐ŸŸก Sentiment Summary
PROPC is showing early signs of bottoming, but price is still within a ranging zone. Bulls need to protect $0.50 and push toward $0.80 to confirm a shift to bullish territory. Until then, itโ€™s accumulationโ€”with high risk around $0.42.

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