Analysis update:
Trend channel confirmation
The price is still moving within an ascending channel. The top of the channel has been retested and rejected, indicating a possible correction.
Risk-Return Setup
The red zone above the current price suggests a stop-loss level. The blue zone below the price indicates a take-profit area, which indicates a downside trade indication.
MACD Indicator
The MACD lines show a possible bearish cross.Histogram shows declining bullish momentum, which could indicate an impending decline.
Volume Analysis
Volume seems stable, but without strong buying pressure. This supports the idea of a possible correction.
Important Price Levels
Resistance: 139 USDCurrent rate: 133.52 USDSupport: 124-111 USD
Conclusion:
The price seems to be at a turning point within an ascending channel. The indicators point to a possible downward correction. If the price does not break above the resistance, a drop to 124-111 USD could be possible.