As you can see in the chart we have reached to a key area which has acted as support and resistance multiple times in both daily and weekly timeframe , having a look at price action in shorter timeframes we see price losing momentum, as well as obvious divergence in RSI which is giving us lower highs, plus we are getiing lower highs which draws a rising wedge giving us a signal of bearish breakout happening.
Based on my analysis I believe price is gonna come back to its previous strong support area (2700-2800) which basically is a previous key area as well as having EMA50 as support, we will then need to see how the support is reacting.
NOT FINANCIAL ADVISE
Based on my analysis I believe price is gonna come back to its previous strong support area (2700-2800) which basically is a previous key area as well as having EMA50 as support, we will then need to see how the support is reacting.
NOT FINANCIAL ADVISE