Price keeps failing to generate higher highs, while it has done a good job of forming lower lows. Soon If price fails to break above 12 cents and stay above this level, it could mean there’s no buying pressure which would potentially drag the price down back to around 8-9 cents. This is a crucial downtrend that must be broken, because only after breaking above this downtrend, big players might pour in.
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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.