Key Levels: The main resistance is at 10.40 dollars , and the main support is at 7.71 dollars . The descending trendline keeps the price below it, and the 200-period moving average above the price confirms the bearish trend .
Closer Zones: A nearby resistance is observed at 8.06 dollars, overlapping with the trendline. The closer support is at 7.71 dollars. A break above 8.06 dollars could push the price toward 9.60 dollars .
Intermediate Level: On the way up, the 8.25 dollars level acts as an intermediate resistance.
Target: Based on the previous move of 2.50 dollars, the potential upside target is around 9.60 dollars .
Conclusion: A breakout above the nearby resistance could signal a weakening bearish trend and the start of an upward move .
Closer Zones: A nearby resistance is observed at 8.06 dollars, overlapping with the trendline. The closer support is at 7.71 dollars. A break above 8.06 dollars could push the price toward 9.60 dollars .
Intermediate Level: On the way up, the 8.25 dollars level acts as an intermediate resistance.
Target: Based on the previous move of 2.50 dollars, the potential upside target is around 9.60 dollars .
Conclusion: A breakout above the nearby resistance could signal a weakening bearish trend and the start of an upward move .
Trade active
Trade closed: target reached
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Related publications
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.