Price increased but continues to be under some selling pressure on the short term as long as it is trading below the SL of the ascending pitchfork.
The rate has shown an oversold signs when it has faield to reach and retest the downside line of the down channel.
You should know that the perspective remains bearish as long as the rate stays within this channel. A valid breakout above the confluence area formed between the SL with the upside line would have signaled a an acceleration and a quick increase. A failure to escape from the minor descending channel could send the price further down. The major downside target remains at the 150%.
The rate has shown an oversold signs when it has faield to reach and retest the downside line of the down channel.
You should know that the perspective remains bearish as long as the rate stays within this channel. A valid breakout above the confluence area formed between the SL with the upside line would have signaled a an acceleration and a quick increase. A failure to escape from the minor descending channel could send the price further down. The major downside target remains at the 150%.