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.