✅$WIF has got rejected from the upper SNR level as we can see by the candle with long upper wick and its price action is validated by the higher volume.

✅This suggest that the sellers were actively selling and buyers got overwhelmed by the sellers and sellers could dominated the market and push the price down.

✅So after that point there price is coming diwn andnow reaching the SNR line below.

✅When we look at the volume, we can see that the volume is on low side suggesting that sellers are looking if there are buyers near this area looking to absorb all the selling and push price back up. This is called 'testing'.

✅If these tests are succesful, which means there are no buyers interested the price will fall further more down from lower SNR level.

✅How ever, if there are buyers, the test will fail. But for now, there are no signs of strength which means if we are looking to buy, its not a good time.

✅And there can be aggressive movement of price to liquidate small traders' accounts.

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