Price made an attempt to break out of the long term down trend but was rejected off of the down trendline back down to support at 0.49 with heavy volume, if the support at current levels breaks there could be a retest of March lows and perhaps lower lows. A short entry at 0.43 could be a valid entry point, one to watch for the meantime.
Note
Closed daily above the down trendline, potentially a good long opportunity for me up to 0.70 then assess from there, however be careful because there is still average volume, I like to see a break with an increase in volume as a further confirmation that the break is valid, but this one looks good.not investment advice
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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.