The price seems to have managed to breakout the channel, it looks like the price has retraced and is now testing the previously broken resistance level. If this level acts as a support level it is very likely that we could see significant bullish gains. The RSI has positioned itself in a better place to push up once again. I will keep this post regularly updated over the next few weeks.
As the price has retraced, it looks like it has started to lose momentum just as the price is touching the broken resistance level. It looks very likely that the price is going to bounce at this point.