META | Descending Channel & 0.618 Fib Support

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META is trading inside a descending channel after breaking its main uptrend. Price recently rejected the upper boundary with strong sell volume and a bearish MACD crossover, showing short-term weakness.

The 0.5 Fibonacci level is acting as current support — if price breaks below this, expect a retrace toward the 0.618 Fib zone ($400–$405) which aligns with key channel support. Holding this level could trigger a rebound toward $450–$470, but a close below $400 opens the door to $380–$360.

RSI is near oversold, suggesting a potential bounce if the 0.618 level holds. Medium-term correction within a larger bullish structure.

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