Big coffee opinion: long #LOAK

The price has experienced significant volatility since the start of 2024, entering an extended bear market phase after peaking over $0.350 mid-year.

Price is currently consolidating around the support zone of $0.165 to $0.176, a level that is performing well and is a potential accumulation area.

Near-term resistance is near $0.250, with a possible move towards the $0.340 range, as shown in the blue forecast.

In early September, the RSI bottomed near 32.00, indicating oversold conditions. It then rebounded and bottomed again, slightly above 47.01, forming a double bottom pattern. This pattern usually signals a bullish trend reversal. As the RSI moves higher, it may give a stronger buy momentum signal in the near future. If the RSI continues to rise and breaks above 60, this will further confirm a stronger bullish trend.

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