The price has successfully broken its downward trendline and, after a successful pullback, has also broken through a key resistance level to the upside. Currently, the price is consolidating above the broken resistance, which indicates strong buyer momentum and a potential continuation of the uptrend. Given the current market structure, the price is likely to experience a minor pullback and consolidation before continuing its upward movement.
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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.