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The price is currently stabilising within a consolidation area, potentially forming a third touch on the lower boundary of the ascending channel. This area could act as a strong support zone, potentially leading to a bullish rebound and an upward movement in line with the channel trend.
However, if bearish momentum persists and breaks this key support level, the price may drop further, targeting the next support zones labeled as Bear Target 1 at 2.2319, and possibly extending to Bear Target 2 at 1.9603 if the downward pressure continues.
On the bullish side, if the price holds and rebounds from this level, the first resistance level to watch is around 2.5085, with further upside targets at Bull Target 1 (2.7558), Bull Target 2 (3.0451), and Bull Target 3 (3.3610), following the trend of the ascending channel.
The price is currently stabilising within a consolidation area, potentially forming a third touch on the lower boundary of the ascending channel. This area could act as a strong support zone, potentially leading to a bullish rebound and an upward movement in line with the channel trend.
However, if bearish momentum persists and breaks this key support level, the price may drop further, targeting the next support zones labeled as Bear Target 1 at 2.2319, and possibly extending to Bear Target 2 at 1.9603 if the downward pressure continues.
On the bullish side, if the price holds and rebounds from this level, the first resistance level to watch is around 2.5085, with further upside targets at Bull Target 1 (2.7558), Bull Target 2 (3.0451), and Bull Target 3 (3.3610), following the trend of the ascending channel.
Trade active
The price has risen toward the first bull target previously mentioned. It will continue attempting to break this resistance and stabilise above it.Note
Currently, the price is trading in a sensitive zone. After it rose toward the resistance level of 2.7558, it then reversed downward.We should wait for stabilisation above 2.5085 or a break below it. If the price breaks below this level, it will encounter a channel and must cross it to confirm the bearish trend. However, as long as trading remains above 2.5085, the bullish trend will be maintained.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.