ACT this wave of market movement is a bit uncertain. The price started rising from 0.0289, peaked at 0.02942, then started to turn around. It has now broken below the key trend line at 0.02842. Honestly, considering the increase, this retracement is quite significant.

The MACD momentum bars are clearly weakening, which is not a good sign. The previous upward momentum is obviously fading, making it difficult to continue climbing. Now, it all depends on whether we can hold the support level at 0.02826 — this is basically the last line of defense for the bulls.

If this level is also lost, the downside space will really open up. The decline could become quite sharp then. So, in the near term, we should keep a close eye on this support level. Once it’s broken, we need to be alert for further risk release.