The price has fallen to a strong support level - the weekly 50 EMA and 50 SMA. The forming bullish divergences on some indicators indicate a high probability of a price bounce for a retest of the nearest strong resistance at $2.
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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.