As you see in the chart, price is bouncing in a descending parallel channel and there is also a downside breakout on the lower band but price is approaching to the monthly and weekly low at 0.90400 which is a strong support level .
Bearish Scenario:
If the weekly and monthly lows broken out to the downside and candle closed below these levels, we can expect more fall in price.
Bullish Scenario:
If price pushed to the upside by monthly and weekly lows, we can consider the channel’s downside breakout as a fake breakout and price grows to the channel’s upper level around 0.91600
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