{"id":438216,"date":"2026-09-16T22:46:15","date_gmt":"2026-09-16T15:46:15","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/meta-tests-major-resistance-after-its-trendline-break-can-buyers-push-through-690-438216\/"},"modified":"2026-09-16T22:46:15","modified_gmt":"2026-09-16T15:46:15","slug":"meta-tests-major-resistance-after-its-trendline-break-can-buyers-push-through-690","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/meta-tests-major-resistance-after-its-trendline-break-can-buyers-push-through-690-438216\/","title":{"rendered":"Meta tests major resistance after its trendline break. Can buyers push through $690?"},"content":{"rendered":"<div>\n<p dir=\"auto\" class=\"PDq2pG_selectionAnchorContainer\">Shares of Meta are trading higher by about 1.3% and reached their highest level since July 15. The move follows yesterday\u2019s break above a downward-sloping trendline on the hourly chart below, with buyers adding follow-through momentum today. That broken trend line is now a close support level at\u00a0<\/p>\n<p dir=\"auto\" class=\"PDq2pG_selectionAnchorContainer\">\n<p dir=\"auto\">However, the advance after the break, has now reached an important resistance area. Buyers and seller will likely battle it out at this key area for control. Move above is more bullish. Stay below and the sellers are still in play.\u00a0\u00a0<\/p>\n<p dir=\"auto\">Meta tests the $685 to $690 resistance zone<\/p>\n<p dir=\"auto\">Looking at the daily chart below, it shows a long history of price reactions between $685.16 and $690.24. This area has acted as both support and resistance going back to March and April 2025 (see Red numbered circles on the chart below).<\/p>\n<p dir=\"auto\">\n<p dir=\"auto\">The importance of the zone is increased by the 61.8% retracement at $690.38. That retracement sits just above the swing area, creating technical confluence.<\/p>\n<p dir=\"auto\">The high today reached around $685, testing the lower portion of that resistance zone before backing off modestly.<\/p>\n<p dir=\"auto\">What do buyers need to do?<\/p>\n<p dir=\"auto\">Buyers have made progress by breaking the downward-sloping trendline and adding follow-through buying.<\/p>\n<p dir=\"auto\">The next step is more difficult. The price must get above the full resistance area and remain above the 61.8% retracement at $690.38.<\/p>\n<p dir=\"auto\">A sustained move above $690.38 would:<\/p>\n<ul>\n<li>\nClear the repeated swing area.\n<\/li>\n<li>\nBreak above the 61.8% retracement.\n<\/li>\n<li>\nGive buyers more control.\n<\/li>\n<li>\nOpen the door for additional upside momentum.\n<\/li>\n<\/ul>\n<p dir=\"auto\">Moving above resistance is the first step. Staying above it would provide stronger confirmation that the breakout is real.<\/p>\n<p dir=\"auto\">What would give sellers more control?<\/p>\n<p dir=\"auto\">If Meta cannot break through the $685.16 to $690.38 area, sellers remain in play.<\/p>\n<p dir=\"auto\">The first close downside risk for buyers is the underside of the broken trendline near $664. Below that level, the 50% retracement at $657.90 becomes the next support target.<\/p>\n<p dir=\"auto\">A move back below those levels would weaken the bullish momentum and raise the possibility that the trendline breakout has failed.<\/p>\n<p dir=\"auto\">Trading education: Why confluence matters<\/p>\n<p dir=\"auto\">Confluence occurs when different technical tools identify approximately the same price area.<\/p>\n<p dir=\"auto\">For Meta, the resistance is supported by:<\/p>\n<ul>\n<li>\nA repeated swing area between $685.16 and $690.24.\n<\/li>\n<li>\nThe 61.8% retracement at $690.38.\n<\/li>\n<li>\nA series of historical highs and lows around the same zone.\n<\/li>\n<\/ul>\n<p dir=\"auto\">That does not guarantee that resistance will hold. It does tell traders that this is an important decision area where both buyers and sellers are likely to become more active.<\/p>\n<p dir=\"auto\">As I explain in my book <a href=\"https:\/\/www.amazon.com\/dp\/0470874384?lv=shuf&amp;channelId=500&amp;plpRedirect=mhFallback\" rel=\"follow\">Attacking Currency Trends<\/a>, traders should identify the levels that define the bias and then let the price action provide the next clue.<\/p>\n<p dir=\"auto\">For Meta, the roadmap is straightforward. Get above and stay above $690.38, and buyers take more control. Stay below the resistance zone, and the risk remains for a rotation back toward the broken trendline near $664 and the 50% retracement at $657.90.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Meta are trading higher by about 1.3% and reached their highest level since July 15. The move follows yesterday\u2019s break above a downward-sloping trendline on the hourly chart below, with&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-438216","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=438216"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438216\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}