The price is moving within a descending channel on the 1-hour frame, adhering well to it, and is on its way to breaking it strongly upwards and retesting it.
We have a bounce from the lower boundary of the descending channel. This support is at 0.1624.
We have a downtrend on the RSI indicator that is about to break and retest, supporting the upside.
There is a major support area in green at 0.16000, which represents a strong basis for the upside.
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