the $5 support zone is a must

Now, based on its release, the optimism could increase, taking its price higher. But, if the release is denied by France, then the deterioration could continue, too.

Close monitoring over the $5 support zone is a must, as it plays a critical role in its future price. As of writing, the sell-offs were large, which took the price below 200-day EMA.

Similarly, the RSI has dipped to 37.69, shattering the median line of 50, and MACD has formed a broad histogram-based bearish crossover. The outlook based on its price looks extremely bearish, and $5 support is crucial.

On the contrary, the sentiment across the globe related to Povel's release, if it becomes a reality, this sentiment could push the price higher toward the $8 mark.