Meta tests major resistance after its trendline break. Can buyers push through $690?

Shares of Meta Platforms (META) rose approximately 1.3% to reach their highest price level since July 15, following a bullish breakout above a downward-sloping trendline on the hourly chart. However, the upward move has brought the stock directly into a critical technical resistance zone spanning between $685.16 and $690.24, which has historical significance dating back to early 2025. Adding to this resistance confluence is the key 61.8% Fibonacci retracement level located at $690.38. Technical analysts note that clearing and sustaining above $690.38 is essential for buyers to solidify control and unlock further upside momentum. Conversely, if sellers defend this level, downside risk exists toward the broken trendline support near $664, followed by the 50% retracement level at $657.90, which could signal a potential breakout failure.