Now, based on its release, the optimism could increase, taking its price higher. But, if the release is denied by France, then the deterioration could continue, too.
Close monitoring over the $5 support zone is a must, as it plays a critical role in its future price. As of writing, the sell-offs were large, which took the price below 200-day EMA.
Similarly, the RSI has dipped to 37.69, shattering the median line of 50, and MACD has formed a broad histogram-based bearish crossover. The outlook based on its price looks extremely bearish, and $5 support is crucial.
On the contrary, the sentiment across the globe related to Povel's release, if it becomes a reality, this sentiment could push the price higher toward the $8 mark.