Trade setup: Following a breakout from Channel Down pattern, price doubled from $1.50 to $3.00 where it got rejected and pulled back below $1.50 support, making a new Lower Low – sign of downtrend. (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 ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $1.50. The nearest Resistance Zone is $2.50, then $3.00.
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 ~ 50 (Neutral).
OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium
Support and Resistance: Nearest Support Zone is $1.50. The nearest Resistance Zone is $2.50, then $3.00.