Long-Term Trend Faces Its First Major Test
Meta had been in a strong primary uptrend since early 2023, but the recent sequence of lower highs and lower lows suggests the market is undergoing its first meaningful corrective phase. For now, the broader structure remains under pressure.

Support Zone Holding for Now
Bulls are attempting to build a base around the $520-$530 support area after successfully defending it twice. Holding this region is important if buyers are to prevent the correction from deepening.

Resistance Defines the Outlook
The $691.52 swing high remains the key level to watch. A decisive break and close above it would invalidate the latest lower-high structure and significantly strengthen the case for a resumption of the primary uptrend.

Moving Averages Still Cautious
The 21/8-Week EMAs remain bearishly crossed, reflecting the loss of upside momentum seen in recent months. Until those averages begin to turn higher again, caution remains warranted.

In Summary
Meta is attempting to stabilise after a notable deterioration in market structure, with the $520-$530 support zone becoming increasingly important. While the longer-term secular trend remains constructive, buyers still have work to do before confidence fully returns. A break above $691.52 would mark a significant improvement, while failure to hold current support would increase the risk of a deeper correction.