The price has rebounded from a major support level, raising the possibility of a test against the downtrend line. If the price fails to break above this resistance, it may retrace back to the support zone. A breakdown below the support level could lead to further downside movement.
From a technical perspective, confirmation of a breakout above the downtrend line is essential for a potential trend reversal. Key indicators such as RSI and MACD should be monitored, if RSI remains neutral and MACD fails to turn positive, the current downtrend may persist. Additionally, volume analysis will help determine whether the rebound is backed by strong buying interest or just a temporary relief rally.
In such market conditions, risk management remains crucial. Securing profits on rebounds and protecting capital against further downside risk can help navigate potential volatility. Waiting for a confirmed breakout or breakdown before making major decisions can reduce unnecessary exposure.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct independent research and consult with a professional before making investment decisions.
From a technical perspective, confirmation of a breakout above the downtrend line is essential for a potential trend reversal. Key indicators such as RSI and MACD should be monitored, if RSI remains neutral and MACD fails to turn positive, the current downtrend may persist. Additionally, volume analysis will help determine whether the rebound is backed by strong buying interest or just a temporary relief rally.
In such market conditions, risk management remains crucial. Securing profits on rebounds and protecting capital against further downside risk can help navigate potential volatility. Waiting for a confirmed breakout or breakdown before making major decisions can reduce unnecessary exposure.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct independent research and consult with a professional before making investment decisions.
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