SNXX collapsed from a $49 high to $6.5, then snapped back to $13, and now sits stalled at $9.8 — almost exactly the midpoint of that whole swing.
The $8-9 area is where several things line up: a low that already held twice, the band where heavy buying came in before the crash, and fading selling pressure.
If $7.55 gives way there is nothing holding price up until $6.5, which is exactly why the stop sits just underneath that level.
The full analysis is for members
Analysis by methodology (ICT, Wyckoff, Elliott, divergence, macro, news), invalidation levels, R:R and confidence are in the member report.
