MORPHO APPROACHES $3: A MAJOR WEEKLY BREAKOUT AHEAD?
MORPHO is showing strong bullish momentum on the weekly chart, with buyers pushing price toward the critical $3 resistance zone.
Based on the supplied chart, MORPHO is trading at $2.7414, above all three major weekly moving averages. The recent high at $2.9829 is now the key level to watch.
LONG SETUP — WAIT FOR CONFIRMATION
Current Price: $2.7414 Entry Zone: $2.50–$2.60
TP1: $2.93 TP2: $2.9829 TP3: $3.25 Stop Loss: $2.30
MARKET STRUCTURE
The weekly trend remains bullish, with price holding above MA5 ($2.5307), MA10 ($2.3360) and MA20 ($2.1317).
RSI at 63.08 indicates positive momentum without reaching the traditional overbought threshold of 70.
The $2.50–$2.60 area is an important potential demand zone. A successful retest followed by stronger buying volume would support the long setup.
BREAKOUT SCENARIO
A confirmed weekly close above $2.9829, supported by increasing volume, could open the way toward $3.25.
However, rejection near $3 could trigger profit-taking and a pullback toward $2.50. A sustained move below $2.30 would invalidate this trade setup.
THE MAPITUP TAKE
MORPHO's weekly structure currently favors buyers, but entering directly below major resistance carries additional risk.
The preferred scenario is a confirmed support retest or a high-volume breakout above $3. Patience matters more than chasing an extended rally.
Will MORPHO finally break $3, or will resistance trap late buyers?
