The chart reveals a well-defined descending channel formation, indicating a period of price consolidation. However, momentum is building for a potential breakout, as downward pressure is diminishing.
đïž Key Levels to Monitor:
âResistance: Upper trendline of the channel
âSupport: Lower trendline and recent lows.
A breakout above the upper trendline could lead to a significant price increase as bullish sentiment gains traction. Monitoring trading volume will be crucial for confirming this potential shift.
