BUILDON Bears Still in Control as $18.9 Target Looms

BUILDON (B) has experienced a significant decline in the past day, plummeting 14% and pushing its 90-day performance to around 50%. The asset is now trading at a key support level within a descending channel, which may determine whether it sees a rebound or rallies higher.

The current support level sits within a demand zone that recently pushed B higher. If this demand holds, the market could continue trading upward, with its closest ceiling being the descending resistance line.

However, the rebound may not happen immediately, especially considering the fact that the demand zone extends even lower. There is a possibility that the price could drop further into this demand zone and consolidate before seeing a rebound.

In a very bullish scenario, the asset could breach the upper resistance level and trade even higher, with the next target being $18.9.