Link: Signs of life?
2024-09-07

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Bullish Take:

Breakout Possibility: The price has been testing the downtrend line (blue line), and a potential breakout above could lead to a bullish rally.

Key Levels to Watch: The next target after a breakout is the $10.812 level.

Recovery Formation: The price is hovering near a critical support level at $9.910, and if it breaks and holds, this could trigger a bullish reversal.

Bearish Take:
Downtrend Still Intact: The price remains under the blue trendline, suggesting the downtrend is not yet broken.

Support at Risk: If $9.910 fails to hold, the next support lies around $9.329, which could lead to further downside.

Lower High Formation: The chart shows a series of lower highs, reinforcing a bearish sentiment unless a strong breakout occurs.

In summary:

Bullish outlook if price breaks the trendline and moves above $10.812.

Bearish outlook if price breaks down below $9.910, potentially leading to $9.329.

Trade Safe,
Trade Clarity.