- Support: The price appears to have found a support level around $0.25, as it's been consolidating above this level for the past few weeks.
- Resistance: The next key resistance level is around $0.35, which aligns with previous highs made in mid-August.
- Volume spikes are noticeable during sharp declines, particularly in mid-June and mid-August, which shows that traders were selling at a significant rate during these periods.
- Short-Term Outlook: The price is in consolidation between $0.25 and $0.35. A break above or below this range could signal the next directional move.
- Bullish Scenario: A break above $0.35 with high volume could signal a reversal or a rally, with the next target being the $0.50 range.
- Bearish Scenario: A break below the support level of $0.25 could lead to further downside, potentially targeting the $0.18-$0.20 range.
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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.