Price is in a long-term downtrend, consistently forming lower highs and lower lows after the major top. It is now sitting on a strong historical support zone around 4.2–4.5 that has acted as a floor multiple times in the past.
This area is critical:
A confirmed daily close below the support would signal a breakdown and could open the way toward the 3.5–3.0 region.
If buyers defend this zone again, a bounce toward the first resistance around 5.2–5.5 is likely, with a broader recovery potentially reaching 6.5–7.0 where previous support turned resistance.
Price is in a clear short-term downtrend, making lower highs and lower lows after the rejection around the 1.90 area.
The grey box around ~1.43–1.45 is acting as a key horizontal support that has been tested multiple times. Repeated tests weaken support, so this level is critical:
A clean daily close below it would likely trigger continuation to the downside, with the next potential support around the 1.35–1.30 region.
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