Trade setup:
After more than doubling from $0.60 to $1.50, price was rejected 3x (Triple Top pattern) and pulled back below $1.00 support, which opens up downside potential to $0.60 support again, which was the low point in June before the rally. (set a price alert).
Trend:
Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
OBV (On Balance Volume):
Is declining, indicating that volume on Up days is lower than volume on Down days. Hence, demand (buyers) is below supply (sellers).
Support and Resistance: Nearest Support Zone is $0.60. The nearest Resistance Zone is $1.00, then $1.50, and $2.00.
After more than doubling from $0.60 to $1.50, price was rejected 3x (Triple Top pattern) and pulled back below $1.00 support, which opens up downside potential to $0.60 support again, which was the low point in June before the rally. (set a price alert).
Trend:
Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). MACD Histogram bars are declining, which suggests that momentum is weakening.
OBV (On Balance Volume):
Is declining, indicating that volume on Up days is lower than volume on Down days. Hence, demand (buyers) is below supply (sellers).
Support and Resistance: Nearest Support Zone is $0.60. The nearest Resistance Zone is $1.00, then $1.50, and $2.00.