The price is currently in an uptrend and, after breaching the $25 threshold, it has entered a corrective phase. It is presently consolidating within the support zone delineated by the channel’s lower boundary and the ascending trendline. It appears that approximately one month will be required to complete the bottoming process for this asset. Following this consolidation, I anticipate a bullish move towards historical highs, with an initial target of $25.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.