1. Resistance at ~2,920: The price has attempted to break this level multiple times but failed.
2. Support at ~2,900: A previous resistance zone turned into a support level.
3. Projected Downward Movement: The blue arrow suggests that the price is likely to reject from the resistance and drop towards the support.
Forecast:
If the price fails to break above 2,920, it may reverse and test the 2,900 support level.
A breakdown below 2,900 could indicate further downside movement.
2. Support at ~2,900: A previous resistance zone turned into a support level.
3. Projected Downward Movement: The blue arrow suggests that the price is likely to reject from the resistance and drop towards the support.
Forecast:
If the price fails to break above 2,920, it may reverse and test the 2,900 support level.
A breakdown below 2,900 could indicate further downside movement.
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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.