- The price has recently tested the lower Bollinger Band, suggesting oversold conditions or potential support around the $0.27 level.
- The price is consolidating in a tighter range over the last few months, suggesting that a breakout could be approaching. Watch for movement beyond the Bollinger Band upper or lower boundary.
- Support: The area around $0.27 appears to act as short-term support, coinciding with the lower Bollinger Band.
- Resistance: Immediate resistance is around $0.30 (recent highs and middle of the Bollinger Band), with stronger resistance around $0.35.
- Short-term Trend: Bearish, with the price near the lower Bollinger Band, indicating the possibility of a bounce or continued downward pressure if it breaks below.
- A break below $0.27 could trigger a deeper sell-off.
- A sustained move above $0.30 (and the moving average) may signal the start of a reversal or consolidation phase.
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➀➁➂➃➄
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.