The price is in a zone of strong oversold conditions on multiple timeframes. The nearest strong support level is at $1960, from which a price rebound may occur. The indicated trend line is a key support level for the upward trend.
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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.