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.

Doji 📊

A Doji is a candlestick pattern where the open and close prices are nearly equal. This shows indecision in the market.

It means buyers and sellers are fighting, but neither side wins.

Key Points 👇
• Small or almost no real body
• Wicks can be long or short
• Signals market hesitation

When It Matters 🎯
• After a strong uptrend → possible reversal or pullback
• After a strong downtrend → possible bottom formation
• Inside consolidation → continuation likely

Important: A Doji alone is not a signal. Always wait for confirmation from the next candle and overall market structure.

The breakout from the decsending channel marked the first shift in momentum. Since then, price has formed higher lows and is now trading inside a rising channel, confirming short term bullish structure.

The key level to watch is 0.0672 to 0.0676. This area acts as immediate support after the breakout. Holding above this zone keeps the bullish continuation scenario intact.

If price continues to respect the ascending trendline, the next resistance sits around 0.0853. A clean break above that opens the path toward 0.1070, which aligns with higher timeframe resistance.

On the other hand, if price loses the rising trendline and closes below 0.0672, a pullback toward 0.0594 to 0.0615 becomes likely before any continuation attempt.

Right now, structure favors buyers.
Higher lows are forming.
Momentum has shifted from distribution to accumulation.