Long-term trend is UP – price has been making higher highs and higher lows on the monthly chart since 2020.
The most recent major high was ~219.00
Price is now in a pullback from that high, but the overall structure of higher highs remains intact unless the prior major swing low is broken.
📉 Current Structure (Daily & Weekly)
Price is in a downtrend on the daily timeframe – a series of lower highs and lower lows since the 219.00 peak.
The current move down is a correction within the larger uptrend, not a reversal (yet).
Price is currently hovering around a major structural support zone – the area of the previous swing high from earlier in the year (old resistance became support).