π SFP has notably captured market attention, having recently broken through a key resistance area. Currently, it is approaching a retesting phase at a level that was previously acting as resistance. For SFP to sustain its upward trajectory, a strong bounce during this retesting phase is essential, probability setting it on course towards our identified strong resistance area.
π However, should SFP struggle to uphold the support level during retesting, indicating a false breakout, it could lead to a regression back to the demand area, specifically around the $0.62 mark.
π The $0.62 demand area becomes critical at this juncture. For SFP to resume its upward journey, a robust rebound from this level is required, aiming to reclaim and sustain above the resistance level. Conversely, if SFP breaks below this demand level, it indicates a potential for further downward movement, possibly directing it back towards a stronger support area.