Possible move up before decision of a confirmation

Enjin ever since listed on coinbase has been in a descending channel. Possible for it to test the next fib level around $2.23 and if it can break out from there. To test the upper channel around $2.38. Possible breakout with a pull back to confirm and we can see it break out of the descending channel to move up to $2.50s again.

However, if it fails, we will fall further to below $1.81.

Not financial advice, trying to put what I know to the test. I believe with BTC going down, it does bring the rest of the market with it.