WEED back within an old narrowing ascending channel

WEED.TO finds itself back within an ascending channel, for the first time since losing it June 26th. Indicators on larger time frames are getting very extended as the price level tests the upper limit of the channel, and while the price is at all time highs and running on both hype and news, I do believe at least temporary consolidation is in the very near term future. That said, I expect this reentry to be rejected and for a new support level to be found.