price is moving into a descending channel since 5 month ago.
right now it is trying to close above daily 50MA and MACD (daily line) also turned in bullish level.
so closing above the channel is a good sign for stronger rally to come. and closing above daily 200MA will accelerate this process.
I put the baseline on the chart and in any case, moving above this level ( around 8.8$) it is bullish.
also in case of the bull run scenario we can expect the resistant levels on the chart will hit as targets.
Enjoy the market
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at the moment still price is above baseline but MACD line turned to negative level and price is moving below daily 50MA so we can not expect for strong rally unless price close above those line mentioned. in the case of price closed below my base line the rebuy zone would be good area to enter for long or rebuy based on your strategy. lets see
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the baseline on my chart hold the price well so at the moment the only strong resistant level is the channel breaking above the channel confirms next stronger rally as well. lets see
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either moving above baseline or test below the baseline for very short term it has a grate potential to pump after breaking the channel upward, lets see