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The daily chart witnessed the formation of a lower high pattern which has not been validated as the price hovers above the neckline of $0.0158 level. Now, if the bears are able to drag the price below the $0.0158 level, it may indicate short term trend reversal and the price may extend downwards.
whereas, the price currently hovers in a bullish territory until it hovers above the $0.0158 level. The key 20 day EMA at $0.0165 may also act as a dynamic support and try to prevent the further downside move.
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