The positives here is that $SQ has held the blue line support and this is the 2hr chart so I could fit in this yellow channel clearer but we can see that the price is holding above the 2hr chart and it is also holding above the 1hr chart too.....there is still a bit more work to do here and it is lagging a bit behind $PYPL and $SOFI too but there is still plenty of time and room for this to start moving to the upside.
However, losing this blue line will mean that the next support is likely on the yellow trend line.
So we would like to see this move with $PYPL and $SOFI.