Looking at this trend line, we will notice it is self explanatory but for the benefits of more clarity we will offer little analysis to back it up. We can see the bearish trend channel from the top of 700 down to the level of 446. This particular pair attempted a reversal at around 400 zone on the 15th of February 2022 but got rejected again forming a local double top at 446 after having previously tested the 330 support zone. The next support zone is the 336 level but however it is not expected to hold for long based on the antecedent of the trend line and the overall not so favourable macro outlook for the entire crypto market.
Taoheed Adeshina Nafiu.
Disclaimer: The information provided by OlaoneFx is for educational purposes only and should not be treated as investment advice.
Taoheed Adeshina Nafiu.
Disclaimer: The information provided by OlaoneFx is for educational purposes only and should not be treated as investment advice.