ULTIMA has already corrected hard from the 5,243 high, but the current chart is starting to look like late-stage selling rather than fresh weakness. Price is trading near the lower range around 2,289 after a long downtrend, and the market is trying to stabilize above the recent support zone.
The bullish case depends on whether buyers can defend the 2,200 to 2,300 area. If this zone holds, ULTIMA could build a recovery structure toward 2,735 first, then 3,000+. The major upside confirmation would come once price starts closing back above the previous breakdown area. For now, the chart is in a possible accumulation zone after a full reset.
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