The report also says the chart lines up with an Elliott Wave-style move, with the latest leg appearing to finish near support. Momentum readings were described as having come out of oversold territory before, which traders sometimes treat as a sign that a rebound could follow. Still, the same setup can fail just as fast if support gives way.
ChartNerd stressed that confirmation matters. A decisive push through resistance, backed by stronger volume, would strengthen the bullish case. Without that, the price could keep sliding instead of breaking out. The $1.80 target was presented as a speculative level, not a sure outcome.
Reports say the collaboration also includes blockchain-based collectibles connected to major race weekends, with more launches planned through the 2026 season. The idea is to use Hedera’s network for secure digital experiences while pulling more sports fans into blockchain products. That gives the project a real-world angle at a time when traders are still focused on the chart.
Featured image from Unsplash, chart from TradingView
