🔥

⚙️ Current Technical Structure

Trend: Clearly in a mid-term downtrend — lower highs, lower lows, and fading volume.

Support Zone: $1.47–$1.75 is indeed the make-or-break level. It previously acted as a strong accumulation base before the last rally, so traders are watching it closely.

Momentum Indicators: RSI hovering near the oversold zone (around 30 on 4H/1D), signaling potential exhaustion of selling pressure.

Volume Profile: Declining sell volume = possible sign of seller fatigue.

🧩 Scenario 1 – Dead Cat Bounce (Likely if Weak Rejection)

If price bounces weakly from $1.47–$1.75 but fails to close above $1.90–$2.00 with volume confirmation, it’s likely just a dead cat bounce.

That would open downside targets toward $1.28 and $1.05, where long-term support sits.