#XAI

The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.

The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.

A key support zone (in green) has been identified at 00580. The price has bounced off this zone several times, making it a strong support level.

The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.

Entry Price: 0.00686
Target 1: 0.00705
Target 2: 0.00732
Target 3: 0.00768

You can close at the second target or wait for the third target. The choice is yours.
Stop Loss: At the resistance zone (in green).

Remember this simple rule: Money Management.

Any questions? Please leave a comment.

Thank you.