Price has successfully broken the descending trendline, signaling a trend reversal from bearish to bullish. The market is now testing a key supply zone around $0.07450 – $0.07550.
Trend Shift: A bullish breakout from the downtrend line indicates buyers are gaining control.
Support: Previous resistance near $0.07370 may now act as strong support on any pullback.
Resistance: Price is currently at resistance; if broken, next key zones are around $0.07650 and $0.07850.
Bias: Bullish, as long as price holds above the broken trendline and EMA. However, short-term rejection from current resistance is possible before continuation.
Trend Shift: A bullish breakout from the downtrend line indicates buyers are gaining control.
Support: Previous resistance near $0.07370 may now act as strong support on any pullback.
Resistance: Price is currently at resistance; if broken, next key zones are around $0.07650 and $0.07850.
Bias: Bullish, as long as price holds above the broken trendline and EMA. However, short-term rejection from current resistance is possible before continuation.
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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.