Midterm forecast: . While the price is above the support 0.6435, resumption of uptrend is expected. . We make sure when the resistance at 0.6815 breaks. . If the support at 0.6435 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis: . The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle. . While the RSI support #1 at 50 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 0.6625 on 07/15/2020, so more losses minimum to Major Support (0.6435) is expected. . Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. . Relative strength index (RSI) is 53.
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