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Breaking the descending channel with the breach of the last peak allows the price to rise to higher levels, provided that it breaks 42.46 to reach 45.24 and 47.94. This is otherwise expected, a return to 39.84 and from it to 38.20 and a return to the drop.
The price is moving in a narrow range, the momentum is strengthened in the following candles, supported by the crossover of the MACD lines and the volume shift for buying supports the upside as expected
With the price reaching a strong support area and the saturation of the RSI indicator with price action and strength in volume, breaking this support allows the price to reach the top of the channel to form a new peak.
The price attempt to break the previous support level and bounce from it to the trend line while continuing with the trend line without descending from it may give strength to the price's quest to rise to higher levels.