Recently, price accelerated downward and is now reacting near the lower boundary of the major channel. At the same time, a smaller internal descending structure has formed, showing short term compression after the sharp selloff. This suggests the market is in a local exhaustion phase, but not yet structurally bullish.

The key zone to watch is around 0.0180 to 0.0185. This area acts as immediate resistance and aligns with the internal descending trendline. A reclaim and strong close above this region would open the path toward 0.0347 first. If momentum builds and the upper channel boundary is challenged, the larger upside target sits near 0.26, which represents a major macro resistance level.

However, if price fails to reclaim 0.0180 and breaks below the recent lows, continuation toward 0.0157 and potentially 0.0123 becomes likely, following the broader bearish channel direction.

Right now, this is a reaction at major support inside a dominant downtrend.
Reclaim equals relief rally potential.
Rejection equals continuation of the macro sell pressure.

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Recently, price pushed into the lower boundary of the macro channel while also completing a sharp internal selloff inside a smaller descending structure. The strong reaction from the lower channel support suggests temporary seller exhaustion and the potential for a corrective bounce.

The immediate level to reclaim sits around 0.0359. A clean break and daily close above this zone would open room toward 0.0450 to 0.0619, where the next major resistance and trendline confluence are located. If momentum strengthens further, price could attempt a larger move toward the upper boundary of the macro channel near 0.08 to 0.10.

On the downside, failure to hold above 0.0282 would invalidate the relief bounce scenario and expose the structure to continued downside along the lower channel boundary.

At this stage, price is positioned at a high probability reaction zone.
Reclaim of mid channel resistance signals corrective expansion.
Rejection keeps the broader downtrend intact.