The chart provided shows a consolidation phase following a sharp upward movement, suggesting the price is currently trading in a range between 5.3464 (resistance) and 4.3778 (support). Here's what to look for:

Breakout or Breakdown:

  1. If the price breaks above 5.3464 with strong volume, it could trigger a bullish move and test the recent highs.

  2. Conversely, if the price falls below 4.3778, it may signal a bearish move with further downside.

    Volume:Monitor volume closely. A significant breakout needs volume confirmation to avoid false moves.

    RSI Indicator:

    The Relative Strength Index (RSI) is declining and moving toward the oversold region. If it reaches oversold levels, a bounce back up may occur.

Next Move Potential:

  • Bullish Case: Break and close above 5.3464.

  • Bearish Case: Close below 4.3778.

Watch for price action near these key levels to anticipate the next move.

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