#CITY The price is moving in a bearish channel pattern on the 12-hour frame, and it adheres to it well, and it is expected to break to the upside The price rebounded well from the lower border of the channel at the green support level of 2.90, which is a strong level We have a trend to hold above the Moving Average 100, which is strong support for the rise We...
Price is facing bullish pressure from our first support in line with our horizontal pullback support, 78.6% fibonacci retracement where we could see a bounce above this level to our first resistance target. Our 20 EMA is showing signs of bullish pressure as well, in line with our bullish bias.
Price is approaching resistance where we could see a reversal below this level, a break below our intermediate support could see prices push lower.
Price is facing bearish pressure from our first resistance where we could see a reversal here. What are your thoughts on this?