As we can see, the price from May 2020 is chasing the price. During this time, the price has never been able to break through this strong line.
At the moment, the price is moving along the support line and was able to make a channel in which it is now.
Today I expect the price to move down to the lower channel line and then be able to bounce up. I think that due to the fact that the price is going down, it will be able to gain strength and move up to the upper channel line and the resistance line.
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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.