The price is attempting to break the resistance of the descending trendline. A breakout of the trendline could push the price towards the resistance zone of the daily 50 MAs. However, if the price fails to hold above the trendline, it may continue the descending trend. On the hourly timeframe, the RSI indicates overbought conditions.
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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.