The price is attempting to break above the upper boundary of the channel. A successful breakout of this significant resistance could push the price towards a retest of the weekly 200 EMA. However, if the price fails to break above the upper boundary, it may decline towards the support zone around $126.
The price has dropped to the lower boundary of the channel and has formed multiple bullish divergences. A breakout above the channel's middle line will push the price towards the upper boundary. However, if the middle line is not breached, the price is likely to continue moving along the lower boundary of the channel.
The price is once again attempting to break the descending trendline on the linear chart, which is a key resistance level. A breakout above this trendline would signal the start of a local uptrend. The next resistance level to watch would be the same trendline, but on the logarithmic chart (blue line).
The price has broken through the key support of the ascending trendline. It is currently in the oversold zone on multiple timeframes and attempting to hold above the daily 200 MA. There is a high probability of a retest of the trendline, which could be a good entry point for a long-term short position. Subsequently, the price may decline towards the accumulation...
The price has dropped to the lower boundary of the channel on the daily timeframe. The price is in the oversold zone on the 1-4 hour timeframes. There is a high probability of a price rebound towards the midline of the channel and a retest of the weekly 50 EMA. The weekly 200 EMA represents the next strong support level if the downtrend continues.
The price has broken below the trendline on the logarithmic chart, and this trendline is now acting as the nearest resistance. However, on the linear chart, the price has managed to hold above the trendline. The price is still in oversold territory. If the trendline on the logarithmic chart is successfully broken, it may act as a bullish signal, potentially...
The price is once again breaking below the support of the weekly 200 SMA and 50 EMA. The price may continue to decline towards the lower channel boundary or the weekly 200 EMA. The hourly RSI is indicating extreme oversold conditions, which could signal a potential weakening of bearish momentum in the short term and a potential retest of nearby resistance levels
The price has broken a significant support level, which was the ascending trendline. If the candle does not close above the trendline, it will become a strong resistance. The weekly 50 SMA has become a strong support level. The price is currently in a heavily oversold condition.