- The current price is trading below the midline of the Bollinger Bands (usually a 20-day moving average), which typically indicates downward momentum.
- The chart shows a pattern of descending highs and descending lows, which is a classic bearish structure.
- The latest candle is red and pushing toward or near the lower Bollinger Band, suggesting increased selling pressure.
- Price recently lost the $2.20–$2.30 support zone and is now testing the $2.00 psychological level. If this level breaks, it could open downside toward $1.90 or lower.
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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.
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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.