A descending wedge has formed in the short-term timeframe, indicating strong selling pressure. This pattern suggests that the price is currently experiencing downward momentum but may eventually break out to the upside. The price might move from the identified supply zones towards $1.65 to $1.7.
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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.