Trend: The price shows a strong decline after a massive spike, which indicates it could be experiencing a retracement or consolidation phase.
Support: Around the 2.50–2.80 level (green zone), which seems to have held during recent price movements.
Resistance: The red zone around 5.00–5.50 is the immediate resistance, with higher resistance near 59.48, which indicates significant selling pressure above this level.
Volume: There is a noticeable surge in volume during the price decline, suggesting that the recent downtrend is likely being fueled by significant selling activity. This could indicate a potential continuation if the volume stays elevated.
Price Action: If the price tests the 2.50–2.80 support zone and holds, we might see a rebound. Otherwise, a breakdown could target 0.45.
Support: Around the 2.50–2.80 level (green zone), which seems to have held during recent price movements.
Resistance: The red zone around 5.00–5.50 is the immediate resistance, with higher resistance near 59.48, which indicates significant selling pressure above this level.
Volume: There is a noticeable surge in volume during the price decline, suggesting that the recent downtrend is likely being fueled by significant selling activity. This could indicate a potential continuation if the volume stays elevated.
Price Action: If the price tests the 2.50–2.80 support zone and holds, we might see a rebound. Otherwise, a breakdown could target 0.45.
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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.
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.