The price is currently testing the **0.5 Fibonacci retracement level** (black line) as a potential support zone. If this level fails, the **200-day MA** (red line) is the next significant support level to monitor.
Oscillator Analysis: - **PSAR**: Flipped red, indicating bearish momentum. - **RSI**: Dropped to ~44, suggesting bearish momentum but not oversold, leaving room for further downside. - **MACD**: Bearish crossover, with the histogram deepening, confirming negative momentum. - **OBV**: Declining, signaling reduced buying pressure and increased selling activity.
If the **0.5 Fib level** holds, it could provide a base for a rebound. However, if broken, the **200-day MA** will be critical for preventing a deeper correction. Monitor these levels closely!
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