strong support is keeping the asset from forming an immediate deep correction. Of course the RSI is mid line and the macd is eyeing a crossover on the daily, which strengthens the bullish trade. although there is a demand for correction along the descending channel and a rejection of the daily crossover, this could keep the price inflated pending stronger immediate trades or a slip to the next buying zone.
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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.