Possible re-entry levels:
$3.06-$3.20 (Dotted Line inside channel) - Not only is there so much price action here it also lines up with the 50MA. Could be a great bounce target.
$2.55-$2.75 (Bottom of Channel) - This is key support of the channel and would probably have a lower chance of occuring but in my opinion is a grea long-term hold. If we give up this key then we could see much lower prices depending on the overall market conditions.
Sitting pretty on 50EMA but looking weaker. Could see a bounce to the top of yellow channel but with help of volume just like previous rallies had. Likely will sell off more there and wait for re-entry.
$2.60-$3 price levels likely if we see a dump.
Bounce target achieved at bottom of the channel. Price must hold $2.50 to still have upward momentum on daily.
As of right now I'm looking to get above the 21EMA and 50EMA, perfectly lined up with the .618 golden fib ratio as well. That would be a bullish sign for me for more upside.
If not, possibly will be rejection off either EMAs back to the bottom of the channel and possibly breakdown even lower.
Not trading advice, just my setup. Cheers.