In this time frame, as it was said in the previous analysis, the price is moving in a downward trend line circuit after hitting the resistance range of $1787 and has fallen to the support range of 0.786 Fibonacci ($1550) with a Sharpie drop. It is expected that the price of Abenda will have a correction to the range of $1673, which is the resistance range of the trend line, and then continue to fall to the range of $1425. But if the purchase volume is such that the price can break its trend line upwards, the bullish scenario is activated and we will expect the price to rise to the resistance range of $1789.
Resistance range: 1718-1787-1871
Support range: 1550-1488-1425
Resistance range: 1718-1787-1871
Support range: 1550-1488-1425
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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.