Looking at the monthly timeframe, there's a noteworthy double bottom pattern emerging after a sharp downtrend. The key question though—can price actually break through the resistance? The 20-month SMA is still pointing downward and acting as a formidable ceiling. If buyers can't push the price above this level, we could easily see another capitulation leg lower. Worth keeping a close eye on where this consolidation goes. A break above the moving average would shift the narrative significantly.
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OneBlockAtATime
· 2h ago
Double bottom rebound is once again held down by the moving average, this is the fate of FCEL.
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LiquidationHunter
· 2h ago
Another double bottom? Will it break the resistance this time? Feels like the 20-month moving average is pressing down firmly.
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GateUser-a606bf0c
· 2h ago
The double bottom pattern sounds good, but that 20-month moving average line is really too stiff... I feel like this breakout might not happen.
$FCEL Technical Setup: Weekly & Monthly Breakdown
Looking at the monthly timeframe, there's a noteworthy double bottom pattern emerging after a sharp downtrend. The key question though—can price actually break through the resistance? The 20-month SMA is still pointing downward and acting as a formidable ceiling. If buyers can't push the price above this level, we could easily see another capitulation leg lower. Worth keeping a close eye on where this consolidation goes. A break above the moving average would shift the narrative significantly.