Forecast: Continuation of Bullish Trend (Daily)
Invalidation Level: The support level at 0.5690 is crucial; as long as this level remains unbroken, we're looking at a medium-term uptrend.
Technical analysis indicates that as long as the RSI support at 37 holds, the likelihood of a price drop is minimal. A trough has formed on the daily chart at 0.5690, suggesting further gains toward resistances at 0.6800, 0.7750, 0.7985, and potentially higher. Currently, the price is below WEMA21; if it rises further, this line could act as dynamic resistance against additional gains. The Relative Strength Index (RSI) stands at 48, indicating a neutral market momentum.
