In this time frame, the price is moving in a channel in the downtrend, and the ceiling range of the channel has created a resistance range and the floor range of the channel has created a supporting range, as well as EMA7 On the Middle Line Channel Resistance has been established and the price chart is expected to fall up to $1300. If the purchase volume increases in such a way that it cannot cross the support ranges and breaks the channel ceiling upwards, we will see the price climb to the $1600 range.
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