The structure is shifting bearish, with lower highs and lower lows forming a prolonged ABC correction. The price has now moved back below the monthly pivot point. Previously, it managed to reclaim this level and show some growth, but at the moment the picture is as follows:
The price may face resistance from the monthly pivot point when attempting to break higher, leading to a move toward the support zone and S3 at 0.19.
If the price manages to consolidate above the monthly pivot point, we could see continued growth with a target of updating the high at 0.255.
The price may face resistance from the monthly pivot point when attempting to break higher, leading to a move toward the support zone and S3 at 0.19.
If the price manages to consolidate above the monthly pivot point, we could see continued growth with a target of updating the high at 0.255.
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✅My Telegram
t.me/trading_mura
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.