Triangle Pattern
The price action is currently consolidating within a symmetrical triangle pattern. Given the prevailing uptrend, the probability of an upward breakout is higher. The support zone at the $3.20 area is identified as a significant level, providing stability to the price. Meanwhile, the resistance zone at $4 is crucial. A breakout above this resistance would indicate the continuation of the uptrend.
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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.