Hello, guys
Tendency , the price is under bearish pressure , until trading below resistance trendline .
Turning Level: The price is currently trading below this level around 40,671. As long as it remains stable and stays below this level, The price is currently trading below this level around 40,671. As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 41,016, The price is currently below turning level. To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016, and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348. To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718.
Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208. If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932. To confirm a downtrend, the price needs to reach this level before decline on to support Level (3)at 39,606.
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL: 41,016,41,348, 41,718.
SUPPORT LEVEL: 40,208, 39,932, 39,606.