In my previous analysis of OP, I mentioned the first support level I was monitoring, which was the $1.28 level. The price retraced to this level, but the reactions from here were weak, and the price dipped below the $1.28 support. After breaking the $1.28 support, we see that the price has retested this level. The primary support level I’m now watching is $1.20. If it can’t hold above this level, I would expect the price to retrace down to around $1.05. If the price manages to break above the $1.28 resistance, the first intermediate resistance level I’m monitoring on a lower time frame would be around $1.32.
The analysis shared here are not intended as investment advice, but rather as potential short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risks lies with the user. It is strongly recommended to use stop loss orders when executing trades.
