Technical Overview: ⢠The price is currently in a descending channel, as shown by the blue trendlines. ⢠A retest of the upper channel boundary indicates a potential bearish continuation. ⢠Strong downward momentum observed with the resistance zone intact at $0.320. ⢠Volatility may increase at $0.310, so partial profits are advised at TP1.
Risk Management: Ensure proper position sizing and strict adherence to stop-loss levels to safeguard against unexpected moves.