LGNS price is now consolidating just below the trendline barrier of $7, suggesting market participants are positioning ahead of a potential move.
A decisive breakout ideally accompanied by expanding volume and a strong close above the descending line hurdle of $7 would invalidate the lower-high sequence that has controlled price for months. That would mark the first structural shift from bearish to neutral, potentially opening a path toward the next supply band to $8-$10. However, failure here would reinforce the downtrend once again. Another rejection would likely send price back toward the $6 support region, where buyers have stepped in during the current recovery phase.
The next move from this compression zone will likely determine whether LGNS transitions into a recovery phase, or extends its multi-month downtrend once again.
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