Moving to the technical side of AGLD, and checking out the price action starting from Daily. The price recently tapped in the daily demand zone. Now, this demand zone was quite strong because for the demand zone to be strong, there are two things important. If the price of AGLD leaves an imbalance and if the price breaks structure, then that is a valid and strong demand zone. Now besides that, the price emerged way much momentously which shows that buyers were really interested in that level. Now, this is how the demand level on a daily formed but the second important thing is the delivery of price within a zone. In this case, as it can be observed, the price when it was pulling back with weak momentum, and the wave was corrective in nature. This is very ideal if one is interested in taking trade from the zone
Moving down to the 4 hours, starting from the structure first, the price of AGLD was breaking structures to the downside, but recently it failed to break the Low, and instead, it broke the recent Lower High, which shows the structure change in the price. Now, this structure shift was not a usual one rather a strong one, because it also flipped the recent Supply and now the Demand is in control. It can be clearly observed that when the price pulled back, the momentum was very much strong, but the demand in control held the price and acted as a support for the price. Moreover, the momentum which arose from the demand still was great which shows that bulls are dominant. Now, this also has a confluence of BTC as BTC movement affects the alts movement too much extent being the reason, it bounced because BTC also tapped in a daily order Block and reacted nicely of it. AGLD price has also left some liquidity above which acts as a magnet for price.
Invalidation Points
Now talk about the invalidation and targets points. Firstly the level of $0.855 can serve as an invalidation point because if that fails, the structure will change, the supply will be in control, which would favor only shorts. Talking about the target, the range between $1.215 to $1.246 serves as a great target because that is a retail resistance, and a pool of liquidity is sitting there which can drive the price towards it.
