We see that the market is close to the lower bound of the green channel. The price is almost at the support level of 2.160. Thus, in the near future, the market may move in one of two scenarios.
The downtrend scenario will be relevant if we see a break below the lower green wall and the previously indicated support level of 2.160, in this case, the bears may open a path towards the lower wall of the yellow channel and the support level of 1.916.
However, if the market pushes away from the green bound and the bulls begin to gain strength, the price may go above the upper yellow wall and the resistance of 2.330. In this case, the way will be open for the bulls in the direction of the upper green bound and the level of 2.769.
