- $G has rebounded from $0.012 lower trendline support, confirming strong buying activity and preserving the bullish structure on the daily chart.
- Immediate upside target lies at the $0.014 channel midline, with potential continuation toward the $0.016 upper resistance if momentum strengthens.
- Technical framework remains intact as $G respects channel boundaries, providing clear guidance for price movement within the current bullish trend.
$G continues to move within a well-structured ascending channel on the daily timeframe, maintaining a bullish framework supported by active buying interest.
Lower Trendline Rebound Signals Buyer Commitment
Alpha Crypto Signal reported that $G recently rebounded from the lower trendline support near $0.012. This rebound reinforces the market’s defense of the channel’s structure, with buyers stepping in to preserve the prevailing trend.
As long as $G respects the channel boundaries, the path of least resistance remains upward. The immediate upside objective lies at the channel’s midline near $0.014. This area could attract short-term profit-taking before price attempts a push toward the upper channel resistance around $0.016.
Breakout Above $0.016 Could Strengthen Momentum
The analysis mentioned that a push past the $0.016 resistance could prompt more assertive momentum as the price sought incursion into higher levels. That action would denote a continuation of the existing bullish period and drive gains past recent highs established by the channel.
On the other hand, failure to hold the lower trendline would weaken the bullish bias. This scenario could shift market conditions toward broader consolidation or trigger a downside phase.
At present, $G’s technical setup remains favorable to buyers, with the ascending channel providing a clear framework for price action. The market continues to respect both support and resistance, and traders are monitoring whether the asset can progress from the midline toward the upper boundary in the coming sessions.
