In the previous post, I indicated that the boundaries of the blue channel which is based on a previous trend act as supports. As it can be seen, the price bounced of the upper boundary of the channel. I believe that there will be an accumulation around this upper boundary before the next move up towards $2.45 which is at the 1.618 Fibonacci extension. Again, keep in mind that supply is significant at $2.25 where upward movement was rejected several times in the past two days.
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