The price has formed an ascending channel and is attempting to break above the middle line. A successful break above the middle line would potentially propel the price towards the upper boundary of the channel. On the other hand, a break below the lower boundary could lead to a sideways movement or initiate a local downward trend towards the $1 zone.
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.