The price move below the blue 61.8% Fibonacci level has made the golden ratio critical resistance going forward. This move sets up a full retracement target to the previous low before strong buying is likely to return. Also, the objective, marked with arrows, is slightly lower than the full retracement. This creates a zone where buyers are likely to set up camp to build a new floor in the market.
Happy trading.. Staying short or on the sidelines for now waiting for the zone to hit.
Critical Resistance: $0.30588
Key Resistance: $0.29529
Key Support: $0.26698
Critical Support: $0.24653