It wicked below the long-term support zone and instantly reclaimed, that’s a strong deviation move.
Now it’s forming a solid base right under the macro downtrend line that’s been in play since 2021.
If it breaks through that diagonal and flips the $4.8 zone, we could see a sharp run toward $11–12 🚀

Basically, long-term structure looks bottomed out, breakout from here could confirm a full trend reversal.

It’s been stuck inside this massive falling channel for years, but that long tail below the support shows a clear deviation and strong reclaim.
That’s usually the first sign of a macro bottom forming.
If it reclaims around $15–$16 and breaks the midline, the structure opens up all the way to $21 first, and possibly $78+ in the next big cycle move 🚀

Basically, this looks like long-term accumulation before a massive reversal phase 🔥