📊Global trend
After a powerful upward impulse ($0.5), a correction began. On higher timeframes, we see a breakout of the upward trend, indicating a change in structure and the predominance of bearish sentiment.
📊Key levels
- Resistance (red zones):
$0.45584, $0.40635, $0.36420 — previously held the price and remain strong zones for shorts if the price reaches them.
- Support (purple zone):
$0.32 — an important level for bulls. The price has repeatedly tested this zone but is still holding above.
📊Local structure
On lower timeframes, the price is forming a Higher Low (HL), indicating a possible attempt to rise. However, the upward impulse remains weak and requires confirmation.
📍Possible scenarios
1. Bullish 🟢:
- Holding the level $0.32 and breaking $0.34.
- Growth potential to zones $0.36–$0.40.
- Mandatory condition: increase in volumes.
2. Bearish 🔴:
- Break of the level $0.32 downwards.
- Decline targets: $0.30, $0.21331, and $0.18747 with increasing bearish pressure.
‼️What to pay attention to
1️⃣- Volumes: Their decrease indicates uncertainty, but any surge can trigger an impulsive movement.
2️⃣- Reaction at $0.32: A false breakout of the level will be a good signal to open longs.
3️⃣- Global structure: The trend remains bearish, so long positions require increased caution.
