Testing Key Support at $1,200

• The price recently had a strong rally but is now in a short-term downtrend after failing to sustain highs near $1,900.
  
• The price is currently below the middle Bollinger Band (moving average), signaling bearish momentum.
  
• A potential support zone is around $1,200, near the lower Bollinger Band.
  
• Widening Bollinger Bands indicate increased volatility.
  
• The price is approaching the lower Bollinger Band, which could act as a support level.
  
• Support: $1,200 (Lower Bollinger Band), $1,000 (Psychological Support)
  
• Resistance: $1,400 (Middle Bollinger Band), $1,500 (Recent high before drop)
  
• Bearish Continuation: If selling pressure increases and price breaks below $1,200, it may decline further to $1,000.