- The current price is trading below the midline of the Bollinger Bands (usually a 20-day moving average), which typically indicates downward momentum.
- The chart shows a pattern of descending highs and descending lows, which is a classic bearish structure.
- The latest candle is red and pushing toward or near the lower Bollinger Band, suggesting increased selling pressure.
- Price recently lost the $2.20–$2.30 support zone and is now testing the $2.00 psychological level. If this level breaks, it could open downside toward $1.90 or lower.
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