Tesla $TSLA has been unraveling but we suggested it will find support around $178. Tesla Inc. (TSLA) Tags $200 after Sharp Slide; $178 is Key Support For NowSince that last assessment, price indeed fell further and tagged the $178 area to start this week on Monday 6/3. Then, as we can see on the daily chart below, price rebounded relatively sharply during the 6/4 session, confirming the support around $178.TSLA Daily Chart(click to enlarge)Strong Bounce:- As price landed on the $178 support area, which we can see more clearly on the weekly chart below, we can see it rebound sharply back above $193. - However, I don't think this will last. The $200 psychological level will be the first challenge to this recovery attempt.- If price moves back above $200, we might see a significant bounce even if the overall market has turned bearish.- With the RSI in daily and weekly coming off oversold levels, I would not be surprised if price came back to the $240-$260 area, which represents the bottom of the prevailing price top.- On the other hand, I think price will more likely reach $150 or even $125 before finding significant support and settle into consolidation mode.- TSLA continues to be volatile, and even if the market becomes bearish, there could be significant upswings of 15%-25% within the downtrend.TSLA Weekly Chart(click to enlarge)