The price is currently around 0.57508, with a recent downtrend visible.
There is a support zone around 0.57439 - 0.57141, where the price may stabilize before reversing.
The forecast suggests a potential bullish reversal, with the price expected to move upward towards the 0.58460 resistance level.
The projected movement includes higher lows, indicating gradual strengthening before a significant upward push.
Forecast
Bullish scenario: If the price holds above 0.57439, it could confirm support and push higher towards 0.58000 - 0.58460.
Bearish risk: If the price breaks below 0.57141, it may continue declining, invalidating the bullish outlook.
Traders should watch for confirmation signals like increased buying volume and a break above 0.57650 to confirm the bullish momentum.
There is a support zone around 0.57439 - 0.57141, where the price may stabilize before reversing.
The forecast suggests a potential bullish reversal, with the price expected to move upward towards the 0.58460 resistance level.
The projected movement includes higher lows, indicating gradual strengthening before a significant upward push.
Forecast
Bullish scenario: If the price holds above 0.57439, it could confirm support and push higher towards 0.58000 - 0.58460.
Bearish risk: If the price breaks below 0.57141, it may continue declining, invalidating the bullish outlook.
Traders should watch for confirmation signals like increased buying volume and a break above 0.57650 to confirm the bullish momentum.
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.
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.