Published: Mar 15, 2025 at 05:45 AM
Updated: Mar 14, 2025 at 05:40 PM
- $SNAP’s TD Sequential indicator signals a possible rebound, but strong resistance at $10.00 must be broken for bullish momentum.
- Increased volatility and intraday swings show market uncertainty, making key support at $8.50 critical for a potential short-term bounce.
- The bearish trend persists with lower highs and lows, but a trend shift is possible if buyers regain control above resistance levels.
As per analyst Ali Snapchat Inc. ($SNAP) is displaying signals of a possible recovery as the TD Sequential indicator suggests a buy opportunity on the weekly chart. However, the stock has faced intense selling pressure, closing at $8.83 after a sharp 9.16% decline. The price action reflects strong bearish momentum, yet technical indicators hint at a potential reversal.
The TD Sequential indicator has flashed a red “9” indicating that bearish momentum could soon exhaust. Historically, this signal often precedes a trend reversal or a relief rally. However, the stock remains under a critical resistance level near $10.00.
The price has formed lower highs and lower lows. A descending trendline continues to act as resistance, restricting any attempts at a breakout. The latest candlestick pattern, a large bearish candle, confirms selling pressure is still dominant. However, if buyers step in, a bounce could materialize.
Besides the weekly trends, intraday movements also show increased volatility. The market experienced sharp movements between March 12 and March 13, 2025. The price had erratic movements, with the blue trendline showing sharp rises and falls. On the other hand, the green trendline was stable, showing a wider trend.
Source: CryptoRank
The price peaked early in the morning before experiencing a steady decline. The stock climbed but struggled to sustain gains. After noon, downward momentum intensified, leading to one of the lowest closing values recorded. Increased volatility signals uncertainty.
Currently, $SNAP is below the $10.00 resistance level, a critical level that will determine future price direction. If the price breaks above, there can be a return of bullish pressure. But if it cannot regain this level, then further decreases can be expected. If this level holds, a short-term bounce could occur. Moreover, a bullish confirmation will require sustained buying pressure above resistance.
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