GME
's trading range can be identified as a longer-term accumulation where price dipped below demand zones but regained the very important $22 area. This zone, historically, has provided major support and large upthrusts in volume and succeeding price action when sellers were absorbed and reversals occurred. Right now,
GME
's sell-side volume increase (slightly over the last several days) but downward thrusts in price have been diminishing in strength. This is showing me that buyers are stepping up here and we could see a strong reversal in the very immediate future if this level is seen as a "Last Point of Support" in Wyckoff terms. Fibonacci levels would have
GME
potentially going to test the 1.618 fibonacci extension from the "shakeout" low, swing high, and following "lps" low. This Golden Ratio in Fibonacci is seen as as very popular retracement/extension level and would also make sense schematically before another push down to test demand higher in the range.