The tool has formed a clear local support level in a few confirming touches. A downward construction with a decrease in the highs indicates the local strength of sellers. Behind the level, I expect to see a cluster of stops of participants who opened long positions from it. Also, the coin often stabs the levels, so it is advisable to close the position completely on the impulse.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.