using the CHAN theory:
comparing the two vertical region, the first drop is very much stronger than current one. While the "central region" in the middle is holding current movement of price. This concludes that the downward momentum has been depleted, and it should favour upwards movement.
MA34, MA144, MA233 all supporting price around 4.62
MA89 is however a resistance line combined with upper bound of BB at 4.72